Arkansas Classifieds

GasBuddy News Article

votes

Gates $44 million Loss on Ethanol Means More Profit for Vale

Bloomberg -- March 9 (Bloomberg) -- Ethanol, the commodity that cost Bill Gates more than $44 million the last time prices collapsed, is poised to rally as much as 20 percent as the fastest drop since 2008 spurs demand.

Falling corn prices and record ethanol supplies have driven the price down 17 percent in three months to $1.634 a gallon, its worst run since 2008’s fourth quarter. It will average $1.96 a gallon at the peak of the U.S. summer driving season as refiners from Valero Energy Corp. to Sunoco Inc. mix more into gasoline made from increasingly pricey oil, according to the median of 10 analyst estimates compiled by Bloomberg.

Four years after George W. Bush made ethanol a centerpiece of his presidency’s push to cut dependence on foreign oil, three of the biggest producers have sought bankrup

Read the Full Article

Submitted Mar 10, 2010 By: 1studman

Back To News

Category: Daily News Article Discussions > Topics	Add to favorite topics

Author	Topic: Gates $44 million Loss on Ethanol Means More Profit for Vale	Post a Reply Back to Topics

REPLIES (newest first)

First

Next Last

GingoutMD Champion Author Maryland Posts:2,312 Points:475,730 Joined:Jan 2010	Message Posted: Mar 10, 2010 7:34:39 AM Ignore GingoutMD Report Abuse Ethanol is not the solution. It will help us on our way off foreign oil and oil dependence, but we need the food more than we need the ethanol.
Conan1 Champion Author Kentucky Posts:1,675 Points:668,110 Joined:Apr 2008	Message Posted: Mar 10, 2010 5:54:31 AM Ignore Conan1 Report Abuse Geez, I hope he can survive this recession!!!!!
pitamon Champion Author Philadelphia Posts:3,657 Points:1,497,835 Joined:Sep 2004	Message Posted: Mar 10, 2010 5:19:20 AM Ignore pitamon Report Abuse The big problem with corn ethanol is we are taking corn from the food chain; which affects everyone. We need to come up with a way to make ethanol out of something else, unless it is food waste.
turbodog Champion Author Mississippi Posts:4,402 Points:898,465 Joined:Feb 2009	Message Posted: Mar 10, 2010 5:18:14 AM Ignore turbodog Report Abuse I bought into the ethanol production business and stocks are almost worthless now.
Petrock Champion Author Lexington Posts:6,772 Points:2,092,870 Joined:Apr 2005	Message Posted: Mar 10, 2010 5:15:24 AM Ignore Petrock Report Abuse When the price of oil goes up and the price of corn goes down, ethanol starts to look better. Of course the farmers get screwed by low corn prices and we the consumer/tax payer get screwed twice, once by taxes to support ethanol subsidies and once by the high fuel prices that support ethanol. I suppose some politically well connected businesses which are milking the ethanol subsidy gravytrain are making out well anyway!
carlsonguitars Champion Author Portland Posts:4,641 Points:782,530 Joined:Jan 2008	Message Posted: Mar 10, 2010 5:13:54 AM Ignore carlsonguitars Report Abuse you win some and lose some.... I would think Bill Gates would be investing in geothermal, solar, wind, etc - not ethanol!!! (or coal or oil would also be a big bummer!)
subnuke Champion Author Atlanta Posts:5,218 Points:1,050,495 Joined:Sep 2008	Message Posted: Mar 10, 2010 5:11:10 AM Ignore subnuke Report Abuse Corn is for eating and feeding.
RocketGeek Champion Author Grand Rapids Posts:8,246 Points:1,646,160 Joined:May 2005	Message Posted: Mar 10, 2010 5:09:21 AM Ignore RocketGeek Report Abuse Let's just keep the corn for food, okay?
my3sons Champion Author New York Posts:4,455 Points:1,506,535 Joined:Aug 2005	Message Posted: Mar 10, 2010 5:06:32 AM Ignore my3sons Report Abuse greed will get you in the end
paoli8 Champion Author Philadelphia Posts:4,915 Points:1,380,435 Joined:Jul 2007	Message Posted: Mar 10, 2010 5:04:57 AM Ignore paoli8 Report Abuse Some of us have been loosing on Microsoft products over the years, its about time that Gates understands how it is to loose money.
LeeFree Champion Author Pittsburgh Posts:6,834 Points:1,784,950 Joined:Jun 2005	Message Posted: Mar 10, 2010 5:04:46 AM Ignore LeeFree Report Abuse Ethanol, the mistake that will not go away.
neptune2008 Champion Author Michigan Posts:6,265 Points:1,219,560 Joined:Aug 2008	Message Posted: Mar 10, 2010 5:04:26 AM Ignore neptune2008 Report Abuse just doesnt seem the right way
mark1962 Champion Author Albany Posts:3,400 Points:803,890 Joined:Sep 2009	Message Posted: Mar 10, 2010 5:00:13 AM Ignore mark1962 Report Abuse Stupid investment!
Metroman Champion Author Philadelphia Posts:8,244 Points:1,748,885 Joined:Aug 2003	Message Posted: Mar 10, 2010 4:59:36 AM Ignore Metroman Report Abuse As long as we continue to make Ethanol from corn we will be losing money, because it takes more energy to make it from corn than any other method.
Dancin Champion Author Toronto Posts:5,510 Points:2,082,255 Joined:Mar 2004	Message Posted: Mar 10, 2010 4:58:13 AM Ignore Dancin Report Abuse Ethanol is one way of making gasoline inputs go farther, without OPEC being involved. It is a plus, if it creates jobs and tax income in the domestic economy, rather than sending cash overseas. Has OPEC spent any money on foreign aid to Haiti and Chile ? How much, as they can surely afford it.
epf Champion Author Grand Rapids Posts:3,957 Points:1,428,210 Joined:May 2004	Message Posted: Mar 10, 2010 4:57:29 AM Ignore epf Report Abuse Enough of the corn produced ethanol, time to move on to something else.
BoerneWatch Champion Author San Antonio Posts:12,937 Points:1,989,055 Joined:Oct 2005	Message Posted: Mar 10, 2010 4:57:08 AM Ignore BoerneWatch Report Abuse One of the items I will never understand the logic behind. Ethanol. The most imperfect gas alternative.
nissan_maxima09 Veteran Author Lancaster Posts:303 Points:65,020 Joined:Dec 2009	Message Posted: Mar 10, 2010 4:54:50 AM Ignore nissan_maxima09 Report Abuse no one wins with ethanol
afghaned Champion Author Hamilton Posts:8,517 Points:823,500 Joined:May 2004	Message Posted: Mar 10, 2010 4:51:50 AM Ignore afghaned Report Abuse Let them do it without federal subsidies. If they can't make it on their own then let them die.
cheapgasPA Veteran Author Lancaster Posts:312 Points:66,685 Joined:Dec 2009	Message Posted: Mar 10, 2010 4:49:52 AM Ignore cheapgasPA Report Abuse Ethanol was nothing more then a get rich for Bush and his buddies, and most of America bought it
Sabretooth78 Champion Author Buffalo Posts:11,694 Points:2,249,625 Joined:Sep 2005	Message Posted: Mar 10, 2010 4:46:46 AM Ignore Sabretooth78 Report Abuse With ethanol, everyone loses.
FMREALTOR Champion Author Florida Posts:4,133 Points:1,257,035 Joined:Jan 2007	Message Posted: Mar 10, 2010 4:46:28 AM Ignore FMREALTOR Report Abuse get this junk out of our gasoline
BBHybrid Champion Author Pittsburgh Posts:4,690 Points:935,260 Joined:Aug 2008	Message Posted: Mar 10, 2010 4:44:05 AM Ignore BBHybrid Report Abuse tiny drop in the bucket
PADI Champion Author Ontario Posts:3,840 Points:1,005,175 Joined:Nov 2008	Message Posted: Mar 10, 2010 4:34:03 AM Ignore PADI Report Abuse I think Bill Gates can afford to lose 44 million dollars, without worrying about where he would find enough money to buy a loaf of bread, and a tin of beans for his next meal.
theawesome1 Champion Author Cleveland Posts:6,983 Points:1,305,335 Joined:Aug 2005	Message Posted: Mar 10, 2010 4:32:48 AM Ignore theawesome1 Report Abuse BJ's with ethanol at $2.59 in CLE is no sale. Buy gas there with prices at $2.69 and see gas mileage go from City 20 to 14 & Hwy from 30 to 24. NO THANK YOU!
fillerupyeoww Champion Author Columbus Posts:3,531 Points:1,184,895 Joined:Mar 2008	Message Posted: Mar 10, 2010 4:32:42 AM Ignore fillerupyeoww Report Abuse Poor Bill...
vamike Champion Author Virginia Posts:3,550 Points:933,545 Joined:Dec 2008	Message Posted: Mar 10, 2010 4:23:54 AM Ignore vamike Report Abuse That is the equivalent of me losing a dollar.
skippypa Champion Author Hawaii Posts:6,110 Points:1,275,980 Joined:Jun 2008	Message Posted: Mar 10, 2010 4:23:29 AM Ignore skippypa Report Abuse Corn is for eating, feed the hungry.
Metro Man Champion Author Flint Posts:2,728 Points:1,199,290 Joined:Sep 2003	Message Posted: Mar 10, 2010 4:21:03 AM Ignore Metro Man Report Abuse What is 44 million when you are worth billions. Tell it to someone who cares.
animal63 All-Star Author Indiana Posts:697 Points:697,165 Joined:Oct 2008	Message Posted: Mar 10, 2010 4:20:52 AM Ignore animal63 Report Abuse i wonder if the price of gas will drop?
stpetebp Champion Author Tampa Posts:4,135 Points:1,287,550 Joined:Nov 2007	Message Posted: Mar 10, 2010 4:16:26 AM Ignore stpetebp Report Abuse I hear a small violin playing in the background.
14of45SSR Champion Author Saskatchewan Posts:2,370 Points:830,540 Joined:Dec 2008	Message Posted: Mar 10, 2010 4:14:34 AM Ignore 14of45SSR Report Abuse Can not feel sorry for the rich!
twobroke61 Champion Author Michigan Posts:6,060 Points:1,131,915 Joined:Sep 2008	Message Posted: Mar 10, 2010 4:14:21 AM Ignore twobroke61 Report Abuse gates needs a tax right off
HawaiianGuy Champion Author Idaho Posts:7,185 Points:2,620,070 Joined:May 2003	Message Posted: Mar 10, 2010 4:07:54 AM Ignore HawaiianGuy Report Abuse I think Bill and Melinda can handle it.
saveongasNC Champion Author North Carolina Posts:4,407 Points:1,094,015 Joined:Aug 2008	Message Posted: Mar 10, 2010 4:07:43 AM Ignore saveongasNC Report Abuse rodzilla123 Well said.
DosEquis26 Champion Author Chicago Posts:3,769 Points:1,543,640 Joined:Jun 2006	Message Posted: Mar 10, 2010 4:07:30 AM Ignore DosEquis26 Report Abuse ethanol is a ripoff
ED6 Champion Author Riverside Posts:7,552 Points:1,471,570 Joined:Jul 2007	Message Posted: Mar 10, 2010 4:07:23 AM Ignore ED6 Report Abuse I'm for Ethanol derive from other source, not from corn to help us away from foreign oil.
rodzilla123 Champion Author San Diego Posts:2,449 Points:620,080 Joined:Jul 2008	Message Posted: Mar 10, 2010 4:04:03 AM Ignore rodzilla123 Report Abuse Bill Gates, a man with around 60 Billion dollars most a few million. Thats like some of us defying the White House Occupant and going to Las Vegas and loosing $50 Bucks at a Crap table!!!!!!!
fratt Champion Author Grand Rapids Posts:7,504 Points:2,181,330 Joined:Jul 2005	Message Posted: Mar 10, 2010 4:01:50 AM Ignore fratt Report Abuse Don't use food for fuel!
DougKramer Champion Author Virginia Posts:3,265 Points:420,885 Joined:Nov 2009	Message Posted: Mar 10, 2010 3:57:24 AM Ignore DougKramer Report Abuse Has anyone done a study as to which plant materials make the best ethanol? I would laugh if it was marijuana. If there were a "big skirmish" with Moslem OPEC nations, could you imagine the US Government ENCOURAGING our citizens to grow a marijuana "victory garden" (like during WW2) for the alleged purpose of making ethanol?
katmandue Champion Author Detroit Posts:5,755 Points:1,678,960 Joined:Jul 2006	Message Posted: Mar 10, 2010 3:57:18 AM Ignore katmandue Report Abuse Ethanol doesn't cut demand it can only increase it by making gas slightly cheaper.
harleydoctor Champion Author Kansas Posts:4,980 Points:1,463,560 Joined:Sep 2005	Message Posted: Mar 10, 2010 3:48:26 AM Ignore harleydoctor Report Abuse I only run 10% ethanol in ALL my 4 wheeled vehicles, too bad a lot of you are so confused and ill informed. What a bunch of da's........
cathevan Champion Author Manitoba Posts:2,177 Points:544,105 Joined:May 2007	Message Posted: Mar 10, 2010 3:46:06 AM Ignore cathevan Report Abuse ethanol is garbage
wegman Champion Author Twin Cities Posts:5,501 Points:1,629,585 Joined:Jun 2001	Message Posted: Mar 10, 2010 3:43:17 AM Ignore wegman Report Abuse When will we come to our senses and take the monstrosity known as grain based ethanol out into a field, put a stake through its heart, cut off its head, burn the body and take the head to a crossroads and bury it there? Ethanol has only two-thirds the mileage of gasoline (simple chemistry), can't go through a pipeline, is economically non-viable to make without government subsidies and other market distortions AND, when grain based, adds to the price of food world-wide. I hope lots of folks lose their shirts betting on this industry!
BigDogOH Champion Author Cincinnati Posts:6,138 Points:1,342,870 Joined:Mar 2008	Message Posted: Mar 10, 2010 3:37:22 AM Ignore BigDogOH Report Abuse Don't want ethanol, kills my milage
lpj Champion Author Macon Posts:8,583 Points:1,700,640 Joined:Apr 2006	Message Posted: Mar 10, 2010 3:34:23 AM Ignore lpj Report Abuse stop , stop , stop , making ethanol out of corn , we do not want it in gas !!!!
zornave Champion Author Louisville Posts:13,890 Points:2,204,700 Joined:Jul 2001	Message Posted: Mar 10, 2010 3:22:58 AM Ignore zornave Report Abuse Kentucky has the right idea on the use of corn.
ArmydudeNC Champion Author North Carolina Posts:5,796 Points:914,425 Joined:Jul 2009	Message Posted: Mar 10, 2010 3:07:56 AM Ignore ArmydudeNC Report Abuse I don't purchase ethanol blended fuel.
jcurley Champion Author California Posts:5,650 Points:1,324,595 Joined:Dec 2007	Message Posted: Mar 10, 2010 2:58:43 AM Ignore jcurley Report Abuse I agree with the comments so far, except that using ethanol from not-corn sources to replace imported oil is acceptable to me, for the short term. Our long term goal has got to find a better way to eliminate the need for any oil from the middle east.
1fulltank Champion Author Buffalo Posts:5,592 Points:1,089,270 Joined:Nov 2008	Message Posted: Mar 10, 2010 2:51:26 AM Ignore 1fulltank Report Abuse NO ETHANOL.