24/7 Wall St.: As Verasun (VSE) Goes Chapter 11, The Ethanol Industry Faces Serial Failures

The ethanol industry built tremendous production and transportation infrastructure. It was a "if we build it, they will come" strategy. Then, the world fell apart. Prices for gas at the pump are back down well below $3 instead of being headed toward $5 as they were in August.

Verasun says it will keep operating, but common shareholders have been crushed to death. The stock was at nearly $18 late last year. Now it is under $.40.