Last update: 1:42 p.m. EDT June 12, 2008Comments: 57SAN FRANCISCO (MarketWatch) -- As floods of near-Biblical proportions inundate Iowa, the prophets of ethanol are retreating to high ground.
Some of Wall Street's biggest guns downgraded ethanol producers on Thursday, sending shares plunging. Biofuel Energy Corp. (BIOF:biofuel energy corp com
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Last: 3.20+0.24+8.11%
1:47pm 06/13/2008
BIOF 3.20, +0.24, +8.1%) , one of those hit hardest, saw 20% of its stock value wiped out.
Even industry titan Archer Daniels Midland (ADM:Archer Daniels Midland Company
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Last: 32.77-0.75-2.24%
1:47pm 06/13/2008
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ADM 32.77, -0.75, -2.2%) was reeling, its shares down 7% as analysts took a hard look at how rising waters in the corn belt are drowning hopes of a bumper crop for the region's new, heavily subsidized ethanol plants.
www.marketwatch.com/news/sto...tory.aspx
Some of Wall Street's biggest guns downgraded ethanol producers on Thursday, sending shares plunging. Biofuel Energy Corp. (BIOF:biofuel energy corp com
News, chart, profile, more
Last: 3.20+0.24+8.11%
1:47pm 06/13/2008
BIOF 3.20, +0.24, +8.1%) , one of those hit hardest, saw 20% of its stock value wiped out.
Even industry titan Archer Daniels Midland (ADM:Archer Daniels Midland Company
News, chart, profile, more
Last: 32.77-0.75-2.24%
1:47pm 06/13/2008
Delayed quote dataAdd to portfolio
Analyst
Create alertInsider
Discuss
Financials
Sponsored by:
ADM 32.77, -0.75, -2.2%) was reeling, its shares down 7% as analysts took a hard look at how rising waters in the corn belt are drowning hopes of a bumper crop for the region's new, heavily subsidized ethanol plants.
www.marketwatch.com/news/sto...tory.aspx
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Re: Energy Independence Hopes Via Ethanol Flooded Out!
Fri, June 13, 2008 - 8:46 PMHow far this damage goes remains to be seen. However, the market speculators are going to have a field day...
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Re: Energy Independence Hopes Via Ethanol Flooded Out!
Sat, June 14, 2008 - 12:14 PMWell, duh. Ethanol was never a very well thought out idea. It never ceases to amaze me how short sighted and stupid people are. Even when faced with a walking turd like you, Dan.
The only solution to our resources problem is to drag down global birthrates to sustainable levels through massive birth control programs and to force a massive shift away from automobile dependent sprawl. We need to limit families to two children max and start plowing under suburbs after forcing people back into cities. The planet is starting to rebel against human excess. The time to act is now. -
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Re: Energy Independence Hopes Via Ethanol Flooded Out!
Mon, June 23, 2008 - 6:44 AMwritten like the true socialist idiot you are AB. But the truth is we are not overpopulated, we are underpopulated. Let me see if I have enough frequent flyer miles to ship you to the peoples republic where your dreams can become a reality. The time to leave is now! -
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Re: Energy Independence Hopes Via Ethanol Flooded Out!
Fri, July 4, 2008 - 10:09 AM
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