<SEC-DOCUMENT>0001019687-14-000758.txt : 20140307
<SEC-HEADER>0001019687-14-000758.hdr.sgml : 20140307
<ACCEPTANCE-DATETIME>20140307161251
ACCESSION NUMBER:		0001019687-14-000758
CONFORMED SUBMISSION TYPE:	POS EX
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20140307
DATE AS OF CHANGE:		20140307
EFFECTIVENESS DATE:		20140307

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Pacific Ethanol, Inc.
		CENTRAL INDEX KEY:			0000778164
		STANDARD INDUSTRIAL CLASSIFICATION:	INDUSTRIAL ORGANIC CHEMICALS [2860]
		IRS NUMBER:				412170618
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		POS EX
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-178685
		FILM NUMBER:		14677323

	BUSINESS ADDRESS:	
		STREET 1:		400 CAPITOL MALL, SUITE 2060
		CITY:			SACRAMENTO
		STATE:			CA
		ZIP:			95814
		BUSINESS PHONE:		916-403-2123

	MAIL ADDRESS:	
		STREET 1:		400 CAPITOL MALL, SUITE 2060
		CITY:			SACRAMENTO
		STATE:			CA
		ZIP:			95814

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ACCESSITY CORP
		DATE OF NAME CHANGE:	20030627

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DRIVERSSHIELD COM CORP
		DATE OF NAME CHANGE:	20001115

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FIRST PRIORITY GROUP INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>POS EX
<SEQUENCE>1
<FILENAME>peix_posex.htm
<DESCRIPTION>POST AFFECTIVE AMENDMENT TO S-3
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>As filed with the Securities Exchange
Commission on March 7, 2014</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Registration No. 333-178685</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">U. S. SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>POST EFFECTIVE
AMENDMENT NO. 1</B></FONT><BR>
<FONT STYLE="font-size: 12pt"><B>TO</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM S-3</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0pt; text-align: center"><B>REGISTRATION STATEMENT UNDER THE<BR>
SECURITIES ACT OF 1933</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 6pt 0 0pt; text-align: center"><FONT STYLE="font-size: 14pt">PACIFIC
ETHANOL, INC.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified in
its charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 37%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 10pt"><b>Delaware</b></font></td>
    <td style="width: 27%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 10pt"><b>2860</b></font></td>
    <td style="width: 36%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 10pt"><b>41-2170618</b></font></td></tr>
<tr style="vertical-align: top">
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 10pt">(State or other jurisdiction of</font><br>
<font style="font-size: 10pt">incorporation or organization)</font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 10pt">(Primary Standard Industrial</font><br>
<font style="font-size: 10pt">Classification Code No.)</font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 10pt">(I.R.S. Employer </font><br>
<font style="font-size: 10pt">Identification No.)</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0pt; text-align: center"><B>400 Capitol Mall, Suite 2060, Sacramento,
California 95814</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(916) 403-2123</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-weight: normal">(Address
and telephone number of principal executive offices</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">and principal place of business)</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>Neil Koehler</B></FONT><BR>
<FONT STYLE="font-size: 10pt"><B>President and Chief Executive Officer</B></FONT><BR>
<FONT STYLE="font-size: 10pt"><B>Pacific Ethanol, Inc.</B></FONT><BR>
<FONT STYLE="font-size: 10pt"><B>400 Capitol Mall, Suite 2060</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Sacramento, California 95814<BR>
(916) 403-2123</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Name, address and telephone number of agent
for service)</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><I>Copies
of all correspondence to:</I></FONT><BR>
<FONT STYLE="font-size: 10pt"><B>Larry A. Cerutti, Esq.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Rushika Kumararatne de Silva, Esq.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Troutman Sanders LLP<BR>
5 Park Plaza, 14<SUP>th</SUP> Floor<BR>
Irvine, California 92614<BR>
(949) 622-2700 / (949) 622-2739 (fax)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 22pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Approximate date of proposed sale to the public:</B> From
time to time after this Registration Statement becomes effective.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0pt; text-indent: 0.25in">If the only securities being registered
on this Form are being offered pursuant to dividend or interest reinvestment plans, please check the following<BR>
box. <FONT STYLE="font-family: Wingdings 2">&pound;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">If any of the securities being registered
on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, other than
securities offered only in connection with dividend or interest reinvestment plans, check the following box. <FONT STYLE="font-family: Wingdings 2">S</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">If this Form is filed to register additional
securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities
Act registration number of the earlier effective registration statement for the same offering. <FONT STYLE="font-family: Wingdings 2">&pound;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">If this Form is a post-effective amendment
filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement
number of the earlier effective registration statement for the same offering. <FONT STYLE="font-family: Wingdings 2">&pound;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">If this Form is a registration statement
pursuant to General Instruction I.D. or a post-effective amendment thereto that shall become effective upon filing with the Commission
pursuant to Rule 462(e) under the Securities Act, check the following box. <FONT STYLE="font-family: Wingdings 2">&pound;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">If this Form is a post-effective amendment
to a registration statement filed pursuant to General Instruction I.D. filed to register additional securities or additional classes
of securities pursuant to Rule 413(b) under the Securities Act, check the following box. <FONT STYLE="font-family: Wingdings 2">&pound;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Indicate by check mark whether the registrant
is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions
of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer&rdquo; and &ldquo;smaller reporting company&rdquo; in Rule 12b-2
of the Exchange Act. (Check one):</P>

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<tr style="vertical-align: top">
    <TD STYLE="width: 64%; padding-right: 5.4pt; padding-left: 22pt"><font style="font-size: 10pt">Large accelerated filer <font style="font-family: Wingdings 2">&pound;</font></font></td>
    <TD STYLE="width: 36%; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 10pt">Accelerated filer <font style="font-family: Wingdings 2">&pound;</font></font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 22pt"><font style="font-size: 10pt">Non-accelerated filer <font style="font-family: Wingdings 2">&pound;</font> (Do not check if a smaller reporting company)</font></td>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 10pt">Smaller reporting company <font style="font-family: Wingdings 2">S</font></font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>The Registrant hereby amends this registration statement
on such date or dates as may be necessary to delay its effective date until the Registrant shall file a further amendment which
specifically states that this registration statement shall thereafter become effective in accordance with Section 8(a) of the
Securities Act of 1933 or until the registration statement becomes effective on such date as the Commission, acting under Section
8(a), may determine.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXPLANATORY NOTE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">This
Post-Effective Amendment No. 1 to Form&nbsp;S-3 Registration Statement (</FONT>File No. 333-178685<FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">)
(the &ldquo;Registration Statement&rdquo;) is being filed pursuant to Rule&nbsp;462(d) under the Securities Act of 1933, as amended,
solely to add an exhibit to such Registration Statement. No changes have been made to Part&nbsp;I or Part&nbsp;II of the Registration
Statement other than to add an exhibit under Item 16(a) of Part II as set forth below.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="background-color: white">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="background-color: white">The
Registration Statement, initially filed on Form S-1 on December 22, 2011, was previously post-effectively amended by a Post-Effective
Amendment No. 1 to Form S-1 on Form S-3 on March&nbsp;8,&nbsp;2012. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PART II<BR>
<BR>
INFORMATION NOT REQUIRED IN PROSPECTUS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>ITEM 16.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EXHIBITS
AND FINANCIAL STATEMENT SCHEDULES.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>(a)&nbsp;&nbsp;&nbsp;&nbsp;Exhibits.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following exhibit is filed as part of this Registration
Statement:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr>
    <td style="vertical-align: bottom; padding-right: 5.75pt; padding-left: 5.75pt; font-size: 10pt; text-align: center">&nbsp;</td>
    <td style="vertical-align: bottom; padding-right: 5.75pt; padding-left: 5.75pt; font-size: 10pt; text-align: center"><font style="font-size: 10pt"><b>&nbsp;</b></font></td>
    <td colspan="5" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 1pt solid"><b>Where
        Located</b></P></td></tr>
<tr style="vertical-align: bottom">
    <td style="width: 11%; padding-right: 5.75pt; padding-left: 5.75pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 1pt solid"><b>Exhibit<br>
        Number</b></P></td>
    <td style="width: 36%; padding-right: 5.75pt; padding-left: 5.75pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 1pt solid"><b>Description</b></P></td>
    <td style="width: 8%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 1pt solid"><b>Form</b></P></td>
    <td style="width: 12%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 1pt solid"><b>File
        Number</b></P></td>
    <td style="width: 9%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 1pt solid"><b>Exhibit
        Number</b></P></td>
    <td style="width: 13%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 1pt solid"><b>Filing
        Date</b></P></td>
    <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 1pt solid"><b>Filed
        Herewith</b></P></td></tr>
<TR STYLE="text-align: left; vertical-align: top">
    <TD STYLE="padding: 5.75pt 5.75pt 6pt; font-size: 10pt; text-align: center"><font style="font-size: 10pt">23.2</font></td>
    <TD STYLE="padding: 5.75pt 5.75pt 6pt; font-size: 10pt"><font style="font-size: 10pt">Consent of Independent Registered Public Accounting Firm</font></td>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt; font-size: 10pt">&nbsp;</td>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt; font-size: 10pt">&nbsp;</td>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</td>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</td>
    <TD STYLE="padding: 5.75pt 5.75pt 6pt; font-size: 10pt; text-align: center"><font style="font-size: 10pt">X</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SIGNATURES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Act of 1933, the Registrant has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto
duly authorized, in the City of Sacramento, State of California, on this 7<SUP>th</SUP> day of March, 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr>
    <td style="vertical-align: top">&nbsp;</td>
    <td colspan="2">Pacific Ethanol, Inc.,<br>
a Delaware corporation<br>
<br>
</td></tr>
<tr>
    <td style="vertical-align: top">&nbsp;</td>
    <td colspan="2">&nbsp;</td></tr>
<tr>
    <td style="vertical-align: top; width: 46%">&nbsp;</td>
    <td style="width: 5%"><font style="font-size: 10pt">By:&nbsp;</font></td>
    <td style="vertical-align: top; width: 49%"><font style="font-size: 10pt">/s/ </font>NEIL M. KOEHLER</td></tr>
<tr>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td>
    <td style="vertical-align: top; border-top: black 1pt solid; padding-top: 5pt">Neil M. Koehler<br>
Chief Executive Officer</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Act of 1933, this registration statement has been signed by the following persons in the capacities and on the dates indicated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr>
    <TD STYLE="width: 36%; padding-right: 0.7pt; padding-left: 11pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 1pt solid"><b>Signature</b></P></td>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 42%; padding-right: 0.7pt; padding-left: 0.7pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 1pt solid"><b>Title</b></P></td>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 18%; padding-right: 0.7pt; padding-left: 0.7pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 1pt solid"><b>Date</b></P></td></tr>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-left: 11pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; font-size: 10pt">&nbsp;</TD></TR>
<tr style="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-left: 11pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify">/s/ *</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.2in 0pt 0pt">William L. Jones</P></td>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; font-size: 10pt">Chairman of the Board and Director</td>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; font-size: 10pt">March 7, 2014</td></tr>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-left: 11pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-left: 11pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; font-size: 10pt">&nbsp;</TD></TR>
<tr style="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-left: 11pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify">/s/ NEIL
        M. KOEHLER</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.2in 0pt 0pt">Neil M. Koehler</P></td>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; font-size: 10pt">President, Chief Executive Officer (principal executive officer) and Director</td>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; font-size: 10pt">March 7, 2014</td></tr>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-left: 11pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-left: 11pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; font-size: 10pt">&nbsp;</TD></TR>
<tr style="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-left: 11pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify">/s/ *</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.2in 0pt 0pt">Bryon T. McGregor</P></td>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; font-size: 10pt">Chief Financial Officer (principal financial and accounting officer)</td>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; font-size: 10pt">March 7, 2014</td></tr>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-left: 11pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-left: 11pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; font-size: 10pt">&nbsp;</TD></TR>
<tr style="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-left: 11pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify">/s/ *</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.2in 0pt 0pt">Terry L. Stone</P></td>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; font-size: 10pt; text-align: justify">Director</td>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; font-size: 10pt">March 7, 2014</td></tr>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-left: 11pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-left: 11pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; font-size: 10pt">&nbsp;</TD></TR>
<tr style="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-left: 11pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify">/s/ *</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.2in 0pt 0pt">John L. Prince</P></td>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; font-size: 10pt; text-align: justify">Director</td>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; font-size: 10pt">March 7, 2014</td></tr>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-left: 11pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-left: 11pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; font-size: 10pt">&nbsp;</TD></TR>
<tr style="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-left: 11pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify">/s/ *</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.2in 0pt 0pt">Douglas L. Kieta</P></td>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; font-size: 10pt; text-align: justify">Director</td>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; font-size: 10pt">March 7, 2014</td></tr>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-left: 11pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-left: 11pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; font-size: 10pt">&nbsp;</TD></TR>
<tr style="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-left: 11pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify">/s/ *</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.2in 0pt 0pt">Larry D. Layne</P></td>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; font-size: 10pt; text-align: justify">Director</td>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; font-size: 10pt">March 7, 2014</td></tr>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-left: 11pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-left: 11pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; font-size: 10pt">&nbsp;</TD></TR>
<tr style="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-left: 11pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify">/s/ *</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.2in 0pt 0pt">Michael D. Kandris</P></td>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; font-size: 10pt; text-align: justify">Director</td>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; font-size: 10pt">March 7, 2014</td></tr>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-left: 11pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-left: 11pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; font-size: 10pt">&nbsp;</TD></TR>
<tr style="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-left: 11pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.2in 0pt 0pt">*/s/
                                         NEIL M. KOEHLER </P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.2in 0pt 0pt"><U></u></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.2in 0pt 0pt">Neil M. Koehler, Attorney-In-Fact</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.2in 0pt 0pt; text-align: justify">&nbsp;</P></td>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; font-size: 10pt; text-align: justify">&nbsp;</td>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0.2in; font-size: 10pt">March 7, 2014</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">EXHIBITS FILED HEREWITH</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
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    <TD STYLE="width: 12%; padding-right: 5.4pt; padding-left: 0pt"><b>Exhibit</b></td>
    <TD STYLE="width: 4%; padding-right: 5.4pt; padding-left: 0pt">&nbsp;</td>
    <TD STYLE="width: 84%; padding-right: 5.4pt; padding-left: 0pt">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 0pt; border-bottom: Black 1pt solid"><b>Number</b></td>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0pt; padding-bottom: 1pt">&nbsp;</td>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0pt; border-bottom: Black 1pt solid; text-align: center; vertical-align: bottom"><b>Description</b></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 0pt">23.2</td>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0pt">&nbsp;</td>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0pt">Consent of Independent Registered Public Accounting Firm</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>



<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<DOCUMENT>
<TYPE>EX-23.2
<SEQUENCE>2
<FILENAME>peix_posex-ex2302.htm
<DESCRIPTION>CONSENT
<TEXT>
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<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 23.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONSENT OF INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRM</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We consent to the incorporation by reference
in this Post-Effective Amendment No. 1 to Registration Statement on Form S-3 (No. 333-178685) of Pacific Ethanol, Inc. of our report
dated April 1, 2013, relating to our audits of the consolidated financial statements, which appear in the Annual Report on Form
10-K of Pacific Ethanol, Inc. for the year ended December 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We also consent to the reference to our
firm under the caption &quot;Experts&quot; in the Prospectus, which is part of this Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>/s/ HEIN &amp; ASSOCIATES LLP</U></I><U>&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Irvine, California</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">March 7, 2014</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



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