Robert Ferguson, general manager of the Heron Lake plant, said even highly efficient plants are having trouble making money. Indeed, he said, widespread gains in plant efficiency over the past few years have contributed to the excess of ethanol in the market.
"We're looking hard at cutting back [production],'' Ferguson said. "I think all the plants are when you are looking at negative margins."
Or the window of opportunity opening wider:
That made for tight margins in the ethanol industry. Companies that are well-run and have low debt are in the best position to succeed, he said.
"If they are well managed and make good business decisions, they will find a way through this," Johnson said.
One outcome, status quo for COES, unlikely.
OK the children in the room can now open their eyes.
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