Market Chatter: Ethanol Stocks Rev Higher, But At Low End Of 52-Week Range as EPA Rejects Ethanol in Gas Waiver

By Staff,

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Stocks of several ethanol producers and sellers are higher following the news that the Environmental Protection Agency(EPA) has rejected waiver requests to use ethanol with gasoline.

According to a report on Bloomberg, the EPA rejected the requests from eight U.S. states, saying it did not find evidence that blending corn-based ethanol would cause severe economic harm.

The proponents of the waiver requests are the governors from the eight states, who claimed that the mandate would drive up food costs, especially now when the country is experiencing the worst drought in the last 50 years, the report added.

Among gainers, Pacific Ethanol ( PEIX ) is up 8.8% to $0.332; BioFuel Energy ( BIOF ), up 3% to $4.95; and Renewable Energy Group ( REGI ), up 3.4% to $5.19.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: BIOF , PEIX , REGI

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