Chevron may get into ethanol production business

With the price of ethanol more than doubling in the past year, it's time for the big energy players to get into the game. The LA Times has a story out today about Chevron Corp. thinking about building plants and making its own ethanol in order to "guarantee steady supplies of the gasoline additive for its refineries". The article claims Chevron would become the first major oil company to invest in stateside ethanol production in 26 years. That company, Texaco Inc., which is now a part of Chevron, made ethanol in an old sugar-beet refinery in Indiana from 1980 until 1995. Chevron also recently invested in a large biodiesel production facility in Texas.
[Source: LA Times]