Back in April, I pointed out that Pacific Ethanol (PEIX), which owns a 40-million-gallon-a-year ethanol plant in Boardman, could follow the fate of Cascade Grain Products, the other giant ethanol producer to build in Oregon in response to the state renewable fuel standard. Pacific Ethanol had defaulted on its construction loans and had 30 days to renegotiate them. The company filed for Chapter 11 bankruptcy protection last week, joining 10 other ethanol producers in bankruptcy according to Marketwatch.
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