Add Washington to the list of States that require the use of Ethanol
Ethanol.org – Washington Governor Christine Gregoire has signed Senate Bill 6508 into law, a renewable fuel standard requiring two percent of the state’s gasoline and diesel consumption to be ethanol and biodiesel by December 1, 2008.
The measure includes components to ensure there will be a market for Washington-grown crops as feedstocks for these biofuels. Also, it would require all state agencies to use a minimum of 20 percent biodiesel as compared to the total volume of all diesel purchase made by the agency.
Three other states have passed ethanol-blended fuel requirements: Minnesota, Montana, and Hawaii. Several other state legislatures are considering such moves in this year’s legislative sessions.
This has to be good news for Pacific Ethanol Inc (NASDAQ: PEIX) which has its sights set on the Western United States. With plans already underway to build an Ethanol plant in neighboring Oregon, Pacific Ethanol will be in a good shape to fulfill Washington’s Ethanol demand. Maybe they are already looking at Washington as a potential site for a new plant?
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