commit bab30bce01a58159f838bba8a30a5b3a027a0180 Author: christyq076478 Date: Thu Jan 9 06:00:18 2025 +0800 Add US EPA Says it is Auditing Biofuel Producers' Pre-owned Cooking Oil Supply diff --git a/US EPA Says it is Auditing Biofuel Producers%27 Pre-owned Cooking Oil Supply.-.md b/US EPA Says it is Auditing Biofuel Producers%27 Pre-owned Cooking Oil Supply.-.md new file mode 100644 index 0000000..2fc2171 --- /dev/null +++ b/US EPA Says it is Auditing Biofuel Producers%27 Pre-owned Cooking Oil Supply.-.md @@ -0,0 +1,10 @@ +
By Leah Douglas
+
Aug 7 (Reuters) - The U.S. Epa has actually released examinations into the supply chains of at least 2 renewable fuel producers amid market issues that some may be utilizing fraudulent feedstocks for [biodiesel](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) to protect financially rewarding government aids.
+
EPA spokesperson Jeffrey Landis informed Reuters that the firm has over the past year, however declined to identify the companies targeted due to the fact that the examinations are continuous.
+
The production of biodiesel from sustainable ingredients, like used cooking oil, can make refiners a slew of state and federal environmental and climate subsidies, consisting of tradable credits under a program administered by the EPA called the Renewable Fuel Standard. But fears have been mounting that some products identified as used cooking oil are really less expensive and less sustainable virgin palm oil, an item that is related to [deforestation](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) and other ecological damage.
+
The problem came into focus following a rise in utilized cooking oil exports from Asia in current years that [analysts](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) have said involves unrealistically high volumes relative to the quantity of cooking oil used and recuperated in the area. The European Union is also investigating feedstocks over the scams issues.
+
The EPA audits began after the agency upgraded domestic supply-chain accounting requirements in July 2023 for renewable fuel manufacturers looking for to make credits under the RFS, he said.
+
"EPA has conducted audits of eco-friendly fuel manufacturers since July 2023 that includes, among other things, an evaluation of the areas that utilized cooking oil used in sustainable fuel production was collected," he stated. "These examinations, nevertheless, are ongoing and we are unable to talk about continuous enforcement examinations."
+
U.S. senators from farm states have required more oversight of [biofuel](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) feedstocks, [stating federal](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) companies need to be as rigorous in confirming imports as they are auditing [domestic supply](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) chains.
+
"The Biden administration has produced vigorous requirements to confirm, not simply trust, American manufacturers, and it is important that the very same scrutiny is used to imported feedstocks," six U.S. senators, led by Roger Marshall and Sherrod Brown, composed in a June 20 letter to federal agencies.
+
Another letter from 15 senators to the Treasury Department on July 30 advised the administration to exclude 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](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) and Matthew Lewis)
\ No newline at end of file