With Trump's victory, Nebraska investors and businesses are ready for a new era - OWH
Excerpt from article by Russell Hubbard - Nov. 10, 2016
And it wasn’t all roses for regional companies. Omaha-based Green Plains, the world’s second-largest producer of ethanol, dropped sharply, shedding 4.2 percent, or $1.05, to close at $24 a share. Industry watchers said a Trump administration could tinker with — or even eliminate — the federal rule called the Renewable Fuel Standard that mandates a certain percentage of the nation’s motor fuel supply be made of ethanol.
Todd Becker, president and chief executive of Green Plains, said in an interview that the market moves were misguided — Trump is a strong supporter of ethanol, Becker said. And with Nebraska and Iowa — the two biggest ethanol-producing states — delivering electoral votes for Trump, the president-elect isn’t likely to ravage an industry that provides jobs and a product that is exported globally, Becker said.
Wednesday was “a day for the haters that think they have a mandate to make changes” to the Renewable Fuel Standard, Becker said. “We don’t see the same thing in the winds coming out of his campaign,” he said of Trump. Green Plains’ stock still is up nearly 9.5 percent over the past year, outstripping the broader market.