VeraSun Energy Corporation fka VSUNQ

[Greener]

VeraSun (VSUNQ.PK) - the deal that helped build the investor craze for ethanol - finally sold off in pieces in bankruptcy. To whom? A Texas refiner known for picking up refining assets on the cheap. Note to Vinod, yes, ethanol is much, much more expensive than gasoline, any way you cut it. And no, refining feedstocks into fuel is not a wonderful new business that should trade at tech multiples. Way to go Valero (VLO)! But don't worry, all the "good" deals are doing cellulosic ethanol - you know the btu poor, hard to transport, pain in the rear to refine feedstock which we don't own using technology currently at 0.25% of the scale of the average oil refinery. That's where we'll make our "smart" money.