California-based ethanol producer Pacific Ethanol (NASDAQ:PEIX), founded in 2005 and for at least several years the leading producer and marketer of ethanol biofuel in the western USA, has had to endure bankruptcy in 2010, punitively high corn prices in 2012-13 from the worst drought to hit the Midwestern Corn Belt in half a century, two reverse stock splits, and then in November 2013 a selloff of ethanol stocks on fears of the Environmental Protection Agency (EPA) reducing mandated ethanol additions to the national gasoline/diesel supply. Thankfully, concern over that last possibility now looks to be baseless, given soaring export demand for ethanol and an Obama White House this past week adamantly telling the EPA that biofuels must continue...
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