Tale of Two Producers: Pacific Ethanol Prepares to Restart Plant, GNH Files For Bankruptcy
The U.S. ethanol industry continues its economic roller coaster ride as one producer prepares to restart production and another files for bankruptcy. The two announcements provide insight into an industry trying to maneveur in an economy impacted by weak demand for fuel. Pacific Ethanol announced this week it was preparing to resume production of ethanol at its 60 million gallon per year Idaho facility. The Sacramento-based company’s four ethanol-producing units filed for bankruptcy protection last May after a months-long struggle to secure enough cash to stay in business. The company — along with a number of biofuel producers — was hurt by the trifecta of low gasoline prices; higher corn prices and energy costs; and global credit crunch. But now it appears market…
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