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Industry Report Shows Ethanol Margins Are Steadily Increasing
By Mr Ethanol | December 17, 2007
Seeking Alpha:
For many ethanol producers pinched by the historically low margins in September, recent events are giving a huge boost to the industry now. Citigroup’s (C) David Driscoll, probably the best out there when it comes to the ethanol industry issued a report Tuesday.
In it he said average ethanol margins rose 2 cents a gallon last week to 30 cents and have risen 26 cents over the past 10 weeks since bottoming at 4 cents a gallon back in late September. The to date mild winter weather has led to natural gas price reductions from a settlement of more than $8.02 per million BTU’s on Nov. 26 to a settlement of $7.15 on Friday to $7.085 on Tuesday. Since most ethanol producers use natural gas to power plants, reductions here go right to the bottom line. More.
Topics: Ethanol, Industry, News |
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