Just listened to Chen . Interestingly he asked the same question I had about RIN appreciation. Good answer. Helped explain possible reasons. Also good answers re ethanol margins and prices....will focus on improved plant efficiencies, synergies, lower opex, more co product sales and industry discipline re supply/demand management. . Sidoti analyst is concerned re rfs being negatively impacted by low gas prices. Firm answer that this is not in the cards, but no one really knows imho. What seemed pretty clear is that PEIX is very pumped about this deal and when margins improve again it should be a very profitable merged enterprise.
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