Malaysian fraudsters get rich by pretending clean cooking oil is used

In Malaysia, cooking oil is government-subsidized to stay cheap — about 60 cents per kg. However, used cooking oil is worth $1 per kg, because European airlines pay premium prices for it to produce "green" jet fuel.

So naturally, enterprising businesspeople are buying fresh oil, pretending to fry some stuff in it, then flipping it to fuel companies for a huge profit, as Bloomberg reports. — Read the rest

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