Want (even more) proof that ethanol
is on the rise? Pacific Ethanol
would like to show you that its profits in the second quarter of 2006 (net sales of $46.5 million) were about double those of the second quarter of 2005 ($22.8 million). Interestingly, the amazing increase in profits came with only a 27 percent increase in gallons of ethanol sold. (Q2 2005 was 15.6 million, Q2 2006 was 19.8 million). The company's average ethanol price rose by 99 cents per gallon in that time period. All this good news for the company means more ethanol plants. Pacific Ethanol will build three new plants in two Western states and will have a total annual production capacity of 220 million gallons by the middle of 2008.
[Source: Pacific Ethanol, Inc.]