Update 'US EPA Says it is Auditing Biofuel Producers' Secondhand Cooking Oil Supply'

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

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+<br>By Leah Douglas<br>
+<br>Aug 7 (Reuters) - The U.S. Epa has actually released investigations into the supply chains of at least two eco-friendly fuel producers amidst market [concerns](https://stocktwits.com/symbol/MNEL) that some might be using [deceitful feedstocks](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) for [biodiesel](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) to secure profitable government aids.<br>
+<br>EPA spokesperson Jeffrey Landis told Reuters that the [company](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) has actually introduced audits over the previous year, however declined to recognize the business targeted because the examinations are continuous.<br>
+<br>The production of [biodiesel](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) from sustainable ingredients, like used [cooking](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) oil, can earn refiners a variety of state and federal ecological and environment aids, [including tradable](https://pitchbook.com/profiles/company/51278-86) [credits](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) under a [program administered](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) by the EPA called the [Renewable Fuel](https://www.zoominfo.com/c/mission-newenergy/346542889) Standard. But fears have actually been mounting that some supplies identified as used [cooking oil](https://www.zoominfo.com/c/mission-newenergy/346542889) are really more affordable and less [sustainable virgin](https://www.bloomberg.com/profile/company/MNELF:US) palm oil, an item that is connected with [deforestation](https://www.bloomberg.com/profile/company/MNELF:US) and other [ecological damage](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm).<br>
+<br>The issue came into focus following a surge in utilized cooking oil exports from Asia over the last few years that analysts have stated includes unrealistically high volumes relative to the amount of cooking oil used and recovered in the region. The European Union is likewise examining feedstocks over the fraud issues.<br>
+<br>The EPA audits started after the firm updated domestic  requirements in July 2023 for eco-friendly fuel manufacturers looking for to make [credits](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) under the RFS, he stated.<br>
+<br>"EPA has actually carried out audits of eco-friendly fuel producers since July 2023 that includes, to name a few things, an evaluation of the places that used cooking oil utilized in sustainable fuel production was collected," he said. "These investigations, nevertheless, are continuous and we are not able to go over ongoing enforcement examinations."<br>
+<br>U.S. senators from farm states have called for more oversight of [biofuel](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) feedstocks, saying federal companies need to be as extensive in verifying imports as they are auditing [domestic supply](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) chains.<br>
+<br>"The Biden administration has developed energetic standards to verify, not simply trust, American manufacturers, and it is essential that the exact same scrutiny is used to imported feedstocks," six U.S. senators, led by Roger Marshall and Sherrod Brown, wrote in a June 20 letter to [federal firms](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).<br>
+<br>Another letter from 15 senators to the Treasury Department on July 30 prompted the administration to omit imported [feedstocks](https://www.bloomberg.com/profile/company/MNELF:US) like UCO from an [extra tidy](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) fuel tax credit program passed in the Inflation Reduction Act. (Reporting by Leah Douglas in Washington Editing by [Richard](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) Valdmanis and Matthew Lewis)<br>