Saturday, April 10, 2010

Ethanol Plant Closing in Minnesota

Low ethanol prices continue to take a toll on the so-called industry, as an ethanol plant was closed in Buffalo Lake by Minnesota Energy.

This is completely based on price and margins,according to chairman of the board of the company, Randy Byro.

Byro said prices need to increase by at least 50 cents to 75 cents a gallon to even think of reopening the plant.

While not a huge plant, it does underscore the ethanol fiasco which was marketed as a savior to small communities across America, but has dashed hopes as the market for it remains small, and if not for taxpayer subsidies, would be a complete joke.

Let the free market determine whether ethanol is viable or not. If people want it they'll be willing to pay for it. Obviously people don't want it, and the program needs to be droppped along with the waste of taxpayers' dollars.

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