Tuesday, October 07, 2008

Ethanol Companies Folding

It appears that ethanol, as an alternative energy source, has difficulty competing in the marketplace. Within the past year, a string of producers has flopped, pecs up.
- Gateway Ethanol LLC of Pratt, Kansas, declared bankruptcy.

- Alternative Energy Sources Inc. of Kansas City, Missouri, ceased operations.

- Ethanex Energy Inc. of Basehor, Kansas, declared bankruptcy.

- E3 BioFuels LLC of Shawnee, Kansas, filed for bankruptcy.
The companies blame the price of corn and an oversupply of ethanol.

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