Renewable Fuel

I've been interested in the progress of renewable fuel sources both for the environment and also as an investment opportunity. Energy is a big issue in America and I feel that leading companies would make excellent investments.

A local company California, Pacific Ethanol (PEIX), is working to build four ethanol plants in the central valley. The plants would convert starch and sugar from corn into ethanol with the optino of selling the byproduct back to dairies for cattle feed. It's a great cycle!

Just recently Bill Gates' invested $80+ million into PEIX. I also am following by dollar cost averaging several buys over the next few months. I learned my lesson a while back by buying a bunch of Cisco stock at once to see it tank. If I would have spread my purchase over 6 months I wouldn't have had such a loss. In any regard I do see PEIX as a leader in the market and think they will do well.

Here's a press release on a venture between them, GM, Chevron and the state of CA:

http://biz.yahoo.com/prnews/060105/deth005a.html?.v=2