Ethanol producer gambling on "modern day gold rush"

Is the ethanol business a "modern day gold rush"? That's how the St. Louis Dispatch puts in this article on Renewable Agriculture Energy Inc. (RAE) and its founder Mark Wong. The company, set up a little over a year ago, is planning on building five 100-million-gallon-a-year ethanol plants in the Midwest by 2009. The first will be in Gothenburg, Nebraska. Wong is funding RAE in part with money he made selling off his previous company Emergent Genetics to Monsanto. Wong is completely bullish on ethanol's future, saying the next decade will see annual demand reach 20 billion gallons.

"I think there's still room in the industry," he told the Dispatch. "There's quite a long way to go before it's built out. [But,] it's a commodity business. You have to get ready for when times may not be so good."

[Source: St. Louis Today]

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