juliocarreno61
/
mission-newenergy-ltd
1
0
Code Issues Packages Projects Wiki

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

master
Hyman Small 2025-01-12 15:15:09 +08:00
commit 4ff22c8d89
1 changed files with 10 additions and 0 deletions
Show Stats Download Patch File Download Diff File Expand all files Collapse all files

10
US-EPA-Says-it-is-Auditing-Biofuel-Producers%27-used-Cooking-Oil-Supply.md Normal file

@ -0,0 +1,10 @@
<br>By Leah Douglas<br>
<br>Aug 7 (Reuters) - The U.S. Epa has actually [released examinations](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) into the [supply chains](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) of a minimum of 2 renewable fuel [manufacturers amidst](https://www.pinterest.com.au/missionnewenergy/) market issues that some may be using deceptive feedstocks for [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) to protect rewarding federal government aids.<br>
<br>EPA representative Jeffrey Landis told Reuters that the company has introduced audits over the past year, however decreased to identify the business targeted due to the fact that the examinations are continuous.<br>
<br>The production of [biodiesel](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) from sustainable components, like used cooking oil, can earn refiners a variety of state and federal ecological and environment aids, including tradable credits under a [program administered](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) by the EPA called the Renewable Fuel Standard. But fears have been [mounting](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) that some supplies labeled as utilized cooking oil are in fact cheaper and less sustainable virgin palm oil, a [product](https://www.bloomberg.com/profile/company/MNELF:US) that is [connected](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) with deforestation and other ecological damage.<br>
<br>The concern entered into focus following a rise in utilized cooking oil exports from Asia over the last few years that have said includes [unrealistically](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) high [volumes relative](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) to the quantity of cooking oil used and recuperated in the area. The [European Union](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) is also examining feedstocks over the fraud issues.<br>
<br>The EPA audits began after the company upgraded domestic supply-chain accounting requirements in July 2023 for sustainable fuel manufacturers [seeking](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) to earn credits under the RFS, he said.<br>
<br>"EPA has performed audits of eco-friendly fuel producers since July 2023 that includes, to name a few things, an evaluation of the places that utilized cooking oil utilized in renewable fuel production was collected," he said. "These examinations, nevertheless, are ongoing and we are unable to talk about continuous enforcement examinations."<br>
<br>U.S. senators from farm states have called for more oversight of [biofuel](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) feedstocks, saying federal companies need to be as extensive in confirming imports as they are [auditing](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) domestic supply chains.<br>
<br>"The Biden administration has actually developed energetic requirements to confirm, not simply trust, American manufacturers, and it is crucial that the very same examination is used to imported feedstocks," 6 U.S. senators, led by [Roger Marshall](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) and Sherrod Brown, composed in a June 20 letter to [federal firms](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608).<br>
<br>Another letter from 15 senators to the Treasury Department on July 30 prompted the [administration](https://www.zoominfo.com/c/mission-newenergy/346542889) to leave out [imported feedstocks](https://www.crunchbase.com/organization/mission-newenergy) like UCO from an [additional tidy](https://www.businessnews.com.au/Company/Mission-NewEnergy) fuel tax credit program passed in the [Inflation Reduction](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) Act. (Reporting by Leah Douglas in Washington Editing by Richard Valdmanis and Matthew Lewis)<br>