The $185 million Cascade Grain Products ethanol plant in Clatskanie, OR is up for sale in a bankruptcy auction. Interested parties have until December 9th to submit their bids.
The facility is accessable by barge via the Columbia River, truck via US Highway 30 and rail via the Portland & Western's Astoria Branch.
This doesn't really bode well for the whole 'ethanol boom' if ethanol's already recieving considerably generous subsidies and plants are already going bankrupt after less than a year of operation.
Do not mistake this for schadenfreude- employment numbers in that part of the country are mostly dependent on lumber and forestry products which- like every other industry- is still hurting right now and I'm sure the plant provided decent jobs and wages for the eight months it was operational.
But subsidies or not, the ethanol boom has clearly hit a wall.
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