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State Feels Tremors Of Ethanol Shakeout
By Mr Ethanol | October 15, 2007
Indianapolis Star:
Indiana could pay a price for joining the ethanol gold rush at a bad time.
Ethanol production capacity has expanded so rapidly in the United States that there are likely to be some plant shutdowns, cheap resales, consolidations and bankruptcies, an expert says.
“It’s not a pleasant scenario,” said Christopher Hurt, an agricultural economist at Purdue University. “We are calling these growing pains. Almost every industry has to go through a period of excess expansion and over-optimism, and then go through a period of negative markets, losses and generally some bankruptcies and some consolidations.”
Five of Indiana’s six total ethanol refineries opened this year - including POET Biorefining in Portland and Central Indiana Ethanol in Marion — and half a dozen more are scheduled to open in 2008 - including POET Biorefining in Alexandria, Indiana Bio-Energy in Bluffton and Cardinal Ethanol east of Winchester.
One year ago this week, Indiana Lt. Gov. Becky Skillman attended a ground-breaking ceremony for the Hartford Bio-Energy ethanol refinery in Hartford City. Nothing much happened after that.
Topics: Ethanol, Negatives, News |
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