Add US EPA Says it is Auditing Biofuel Producers' used Cooking Oil Supply

US-EPA-Says-it-is-Auditing-Biofuel-Producers%27-used-Cooking-Oil-Supply.md

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+<br>By Leah Douglas<br>
+<br>Aug 7 (Reuters) - The U.S. [Environmental Protection](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) Agency has [released examinations](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) into the [supply chains](https://www.zoominfo.com/c/mission-newenergy/346542889) of at least 2 eco-friendly fuel producers in the middle of market issues that some might be using deceptive feedstocks for [biodiesel](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) to secure profitable [federal](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) .<br>
+<br>[EPA representative](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) Jeffrey Landis informed Reuters that the firm has actually released audits over the past year, but declined to [determine](https://www.abnnewswire.net/companies/en/31347/%E0%B8%9A%E0%B8%A3%E0%B8%B4%E0%B8%A9%E0%B8%B1%E0%B8%97-Mission-NewEnergy-%E0%B8%88%E0%B8%B3%E0%B8%81%E0%B8%B1%E0%B8%94.html/4) the business targeted since the [investigations](https://www.businessnews.com.au/Company/Mission-NewEnergy) are continuous.<br>
+<br>The production of [biodiesel](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) from sustainable ingredients, like used cooking oil, can earn refiners a variety of state and federal environmental and [climate](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) subsidies, [consisting](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) of tradable credits under a program administered by the EPA called the Renewable Fuel Standard. But worries have actually been mounting that some materials identified as used cooking oil are really cheaper and less sustainable virgin palm oil, a product that is associated with [deforestation](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) and other ecological damage.<br>
+<br>The concern came into focus following a surge in utilized cooking oil exports from Asia over the last few years that [analysts](https://pitchbook.com/profiles/company/51278-86) have stated involves unrealistically high [volumes relative](https://www.pinterest.com.au/missionnewenergy/) to the amount of cooking oil used and recuperated in the region. The [European Union](https://www.businessnews.com.au/Company/Mission-NewEnergy) is likewise examining feedstocks over the fraud issues.<br>
+<br>The EPA audits began after the firm upgraded [domestic supply-chain](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) accounting requirements in July 2023 for [sustainable fuel](https://www.pinterest.com.au/missionnewenergy/) manufacturers looking for to make [credits](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) under the RFS, he stated.<br>
+<br>"EPA has actually carried out audits of eco-friendly fuel manufacturers given that July 2023 that includes, among other things, an examination of the locations that utilized cooking oil utilized in eco-friendly fuel production was collected," he said. "These investigations, however, are continuous and we are unable to discuss continuous enforcement examinations."<br>
+<br>U.S. senators from farm states have actually called for more oversight of [biofuel](https://www.businessnews.com.au/Company/Mission-NewEnergy) feedstocks, stating federal companies need to be as rigorous in verifying imports as they are auditing domestic supply chains.<br>
+<br>"The Biden administration has developed energetic standards to verify, not simply trust, American manufacturers, and it is crucial that the exact same scrutiny is applied to imported feedstocks," six U.S. senators, led by Roger Marshall and [Sherrod](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) Brown, wrote in a June 20 letter to federal firms.<br>
+<br>Another letter from 15 senators to the Treasury Department on July 30 prompted the administration to omit imported feedstocks like UCO from an [additional tidy](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) fuel tax credit program passed in the Inflation Reduction Act. (Reporting by Leah Douglas in Washington Editing by Richard Valdmanis and Matthew Lewis)<br>