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MPC - Ethanol Share Prices Drop As White House Confusion Persists
Marathon Petroleum Corporation
The share prices of independent ethanol producers such as The Andersons (ANDE), Green Plains, Inc. (GPRE), Pacific Ethanol (PEIX), and REX American Resources (REX) have shed as much as 10% of their value since last Friday (see figure). The cause of this downturn has been the market's dawning realization that the "giant package" that President Donald Trump had promised the U.S. ethanol sector in August is unlikely to come close to meeting initial expectations. Worse, events this week have shown that even the White House is not