commit 94ef2224b0c036ea730f8579eb59c461b265a28d Author: muoivillanueva Date: Wed Jan 8 19:19:54 2025 +0000 Update '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..35e24d1 --- /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
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Aug 7 (Reuters) - The U.S. Epa has launched investigations into the supply chains of a minimum of 2 sustainable fuel producers amidst market issues that some may be utilizing fraudulent feedstocks for [biodiesel](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) to secure lucrative government subsidies.
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EPA spokesperson Jeffrey Landis informed Reuters that the agency has actually introduced audits over the past year, however declined to determine the business targeted due to the fact that the investigations are continuous.
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The production of [biodiesel](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) from sustainable ingredients, like used cooking oil, can make refiners a variety of state and federal ecological and environment aids, [including tradable](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) credits under a program administered by the EPA called the Renewable Fuel Standard. But fears have actually been [installing](https://pitchbook.com/profiles/company/51278-86) that some supplies labeled as used cooking oil are in fact cheaper and less sustainable virgin palm oil, a product that is connected with deforestation and other ecological damage.
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The issue entered focus following a rise in utilized cooking oil exports from Asia over the last few years that experts have actually said includes unrealistically high volumes relative to the quantity of [cooking oil](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) utilized and recuperated in the region. The European Union is likewise examining feedstocks over the scams issues.
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The EPA audits started after the agency updated domestic supply-chain accounting requirements in July 2023 for sustainable fuel producers seeking to make credits under the RFS, he said.
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"EPA has actually carried out audits of eco-friendly fuel manufacturers given that July 2023 that includes, among other things, an assessment of the places that utilized cooking oil utilized in sustainable fuel production was collected," he stated. "These examinations, however, are continuous and we are unable to talk about continuous enforcement examinations."
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U.S. [senators](https://www.crunchbase.com/organization/mission-newenergy) from farm states have required more oversight of [biofuel](https://www.businessnews.com.au/Company/Mission-NewEnergy) feedstocks, saying must be as extensive in verifying imports as they are auditing domestic supply chains.
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"The Biden administration has produced vigorous requirements to verify, not just trust, American producers, and it is imperative that the exact same examination is applied to imported feedstocks," 6 U.S. senators, led by Roger Marshall and Sherrod Brown, composed in a June 20 letter to federal companies.
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Another letter from 15 senators to the Treasury Department on July 30 advised the administration to exclude imported feedstocks like UCO from an extra tidy fuel tax credit program passed in the Inflation Reduction Act. (Reporting by Leah Douglas in Washington Editing by Richard Valdmanis and Matthew Lewis)
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