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Add 'US EPA Says it is Auditing Biofuel Producers' Pre-owned Cooking Oil Supply'

Christa Galvin 2025-01-12 20:01:13 +11:00
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<br>By Leah Douglas<br>
<br>Aug 7 (Reuters) - The U.S. [Environmental Protection](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) Agency has [launched examinations](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) into the [supply chains](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) of at least 2 sustainable fuel producers in the middle of market concerns that some might be using fraudulent feedstocks for [biodiesel](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) to [protect rewarding](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) government aids.<br>
<br>EPA spokesperson Jeffrey Landis informed Reuters that the company has actually introduced audits over the past year, but decreased to identify the business targeted since the investigations are ongoing.<br>
<br>The production of [biodiesel](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) from [sustainable](https://www.crunchbase.com/organization/mission-newenergy) components, like utilized cooking oil, can earn [refiners](https://stocktwits.com/symbol/MNEL) a slew of state and [federal environmental](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) and [climate](https://www.crunchbase.com/organization/mission-newenergy) aids, consisting of tradable credits under a program administered by the EPA called the Renewable Fuel Standard. But worries have been mounting that some supplies labeled as used cooking oil are in fact less expensive and less [sustainable virgin](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) palm oil, a product that is associated with logging and other [environmental damage](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd).<br>
<br>The problem entered focus following a surge in used cooking oil exports from Asia over the last few years that [analysts](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) have [stated involves](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) unrealistically high volumes relative to the amount of cooking oil and recovered in the region. The European Union is also investigating feedstocks over the scams concerns.<br>
<br>The EPA audits started after the company updated domestic [supply-chain accounting](https://forest500.org/rankings/companies/mission-newenergy-limited) requirements in July 2023 for [sustainable fuel](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) producers seeking to earn credits under the RFS, he stated.<br>
<br>"EPA has actually carried out audits of eco-friendly fuel manufacturers because July 2023 which includes, to name a few things, an examination of the areas that used cooking oil used in sustainable fuel production was collected," he stated. "These examinations, nevertheless, are continuous and we are unable to talk about continuous enforcement investigations."<br>
<br>U.S. senators from farm states have [required](https://www.businessnews.com.au/Company/Mission-NewEnergy) more oversight of [biofuel](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) feedstocks, saying federal agencies should be as extensive in validating imports as they are [auditing](https://pitchbook.com/profiles/company/51278-86) domestic supply chains.<br>
<br>"The Biden administration has created energetic standards to confirm, not simply trust, American manufacturers, and it is important that the exact same scrutiny is applied to imported feedstocks," 6 U.S. senators, led by Roger Marshall and Sherrod Brown, wrote in a June 20 letter to [federal agencies](https://pitchbook.com/profiles/company/51278-86).<br>
<br>Another letter from 15 [senators](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) to the Treasury Department on July 30 urged the administration to leave out imported feedstocks like UCO from an additional clean fuel tax credit program passed in the Inflation Reduction Act. (Reporting by Leah Douglas in Washington Editing by Richard Valdmanis and Matthew Lewis)<br>