Zafar Rizvi: I will add to that is, I think the safety is our number 1 priority. We always review that every month, the safety procedure God forgives anything can happen to anybody. but we are making sure all the safety procedures are followed and drills are happening and other very closely monied the safety things. And as Stuart mentioned, there’s a couple of plants which happened I think — I think if you bring — there’s 1 plant in happen in South Dakota, that was about only 70 million-gallon plants that were shut down for a while. ADM plants were shut down for maybe a couple of weeks of more. And so I think there is — Stuart has mentioned that there is maybe a minor impact. But I think the overall, if you look at the commodity market, that also makes a difference when you have an October 2nd on corn worth trading $4.88 and ethanol was trading $2.36 a — so there is plenty margin at that time to look at it to make sure that this is the time to lock in and moving forward.
So I think as Stuart mentioned, it all depends what — when and what time you execute — execute your profit and consider that this is good enough and less lock in and move on.
Stuart Rose: We believe strongly we have the best commodity trading team, not just the best plants, but I really believe we have the best commodity trading team led by Zafar in the ethanol business.
Doug Bruggeman : Our consolidated plan for build between 2007 and 2009, if I can just add that on.
David Locke: So as you guys continue to sort of like scour the M&A market, but not find anything that’s worthwhile. Are you looking for — are you looking for plants that look like the ones that you have? Or is there — like are there dumpster diving opportunities for you to bring your management expertise and maybe fix up 1 of these older ones?
Stuart Rose: We have — we don’t dumpster dive. So that won’t be us. We don’t — we’re not fix up artists. I’m not saying that we couldn’t do it, but we have come very close to buying plants that are similar to ours, Vegan ICM plants and that were 100 million gallons in for one reason or another, it hasn’t worked out, but that would be our preference, and that would be what we would look for. Unfortunately or fortunately, whatever you want to say, most plants could really — are doing really, really well and the price has gone very, very much up on those plants. So I don’t see anything coming imminently. But in this industry, you never know what might happen.
David Locke: Okay. How do you guys feel generally about the broad supply/demand environment for ethanol right now? I mean we’ve been — we’ve been oversupplied for the better part of 1.5 decades, it feels like, although we’ve had sort of just consistently decent margins all year this year with some really high ones over the summer and early fall. So like have we finally managed to make it to balance with a little bit of increased demand and some supply coming offline?
Zafar Rizvi: I think — go ahead, Stuart, you want to say.
Stuart Rose: I was going to say, in my opinion, it’s a commodity and you never — what will happen is there’ll be one way or another. We’re expanding our plants. There are always — if it does continue this demand, there will be some expansion and then the supply will keep up with it. But we have hoped as an industry and it may or may not happen. The government has given a lot of support to it happening of supplying things like jet fuel. We also would be — have hoped to be in a very, very low carbon fuel which creates demand for our fuel in addition to what it is now across the country. And we — there are more and more pumps, I see them in Dayton. I see them even I assume around the country, more and more pumps that are greater than 10% ethanol in cars today that are manufactured today can run on 15% ethanol.
So then that would be a 50% increase in the gas stations make more money on 15% ethanol. So they have incentives. So there’s help that, that will increase demand. So to answer your question, it’s a commodity business, but a lot of things are moving in our direction.
David Locke: Okay. And then my last question is on the pipeline in Illinois. Do you guys need any imminent domain rulings to make that happen? And it seems like there have been some problems in Iowa recently with that. And the clown show the VAC is sort of like actually campaigning in Iowa about that whole issue. So I’m just sort of curious what the gating items are for getting that installed.
Zafar Rizvi: Yes, I can answer that a little bit. I think if you look at the Illinoi law has clearly stated regardless of we plan to use it are not eminent domain. But regarding the pipeline, Illinois law clearly state that we can use Eminent domain. But as far as our attention, way at this stage, we do not believe that we have to use Eminent domains because we have approximately 4 miles pipeline to the well number 1. And by the time we reached well number 2 and 3, the last well it’s only 7.2 miles pipeline. And so we may have some difficulties. We do not know. But as far as concerned, which we have primary indication, which we have we do not believe that we will be using any Eminent domain. But the law is still there exists and in case of — we have no choice whatsoever that maybe we consider, but that’s not what our attention is at this stage.
