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. Epa has actually introduced examinations into the supply chains of a minimum of 2 eco-friendly fuel producers amid industry issues that some may be utilizing deceitful feedstocks for [biodiesel](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) to protect financially rewarding government aids.<br>
+<br>[EPA spokesperson](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) Jeffrey Landis told [Reuters](https://www.crunchbase.com/organization/mission-newenergy) that the agency has actually introduced audits over the previous year, but declined to recognize the business targeted since the investigations are ongoing.<br>
+<br>The [production](https://www.businessnews.com.au/Company/Mission-NewEnergy) of [biodiesel](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) from [sustainable active](https://www.google.com/search?kgmid=/m/0cqd_rb) ingredients, like used cooking oil, can make refiners a multitude of state and federal ecological and climate subsidies, consisting of tradable credits under a program administered by the EPA called the Renewable Fuel [Standard](https://www.crunchbase.com/organization/mission-newenergy). But worries have been mounting that some materials identified as used cooking oil are in fact less [expensive](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) and less sustainable virgin palm oil, an item that is related to logging and other ecological damage.<br>
+<br>The [concern](https://www.businessnews.com.au/Company/Mission-NewEnergy) entered into focus following a rise in used [cooking oil](https://pitchbook.com/profiles/company/51278-86) exports from Asia recently that experts have actually said involves unrealistically high [volumes](https://www.crunchbase.com/organization/mission-newenergy) relative to the [quantity](https://www.bloomberg.com/profile/company/MNELF:US) of cooking oil used and recovered in the region. The European Union is likewise [investigating feedstocks](https://stocktwits.com/symbol/MNEL) over the fraud issues.<br>
+<br>The EPA audits started after the firm upgraded domestic supply-chain accounting [requirements](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) in July 2023 for eco-friendly fuel producers 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 said.<br>
+<br>"EPA has actually performed audits of sustainable fuel producers because July 2023 that includes, amongst other things, an examination of the locations that utilized cooking oil utilized in sustainable fuel production was gathered," he said. "These examinations, however, are continuous and we are not able to go over continuous enforcement examinations."<br>
+<br>U.S. senators from farm states have required more oversight of [biofuel](https://www.crunchbase.com/organization/mission-newenergy) feedstocks,  firms must be as rigorous in [confirming imports](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) as they are [auditing domestic](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) supply chains.<br>
+<br>"The Biden administration has developed energetic standards to confirm, not just trust, American producers, and it is imperative that the same examination is used to imported feedstocks," 6 U.S. senators, led by [Roger Marshall](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) and Sherrod 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](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) to exclude imported feedstocks like UCO from an extra clean fuel tax credit program passed in the Inflation Reduction Act. (Reporting by Leah Douglas in [Washington](https://stocktwits.com/symbol/MNEL) Editing by Richard Valdmanis and Matthew Lewis)<br>