Through TheFLY's Eyes: Pacific Ethanol Inc
from Theflyonthewall.com










Morgan Stanley, Goldman Sachs, Bill Gates All Bet on Ethanol

Investors and politicians are both flocking to ethanol's banner. President Bush has praised the alternative energy source as a way to reduce independence on foreign oil. Morgan Stanley (MS) invested $66M into Aventine Renewable Energy LLC, an investment that is now worth $750M. Goldman Sachs (GS) is investing in Iogen Corp, which is developing enzymes that can break down wheat stalks, wood chips and straw into ethanol components. Bill Gates, the founder of Microsoft (MSFT), has invested $84M in Pacific Ethanol (PEIX), which is building a 35 million gallon-a-year plant that will make the company the biggest ethanol maker in California.

Although none of this is new, it proves the point that "news doesn't matter until it matters," as a Bloomberg article highlighting these points on ethanol earlier today has moved Pacific Ethanol's stock up +1.15 to 31.43 today, as this is written, apparently on the piece.