Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
Jones William L
   2. Issuer Name and Ticker or Trading Symbol
Pacific Ethanol, Inc. [PEIX] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
400 CAPITOL MALL, #2060		 3. Date of Earliest Transaction (Month/Day/Year)
09/16/2010
(Street)

SACRAMENTO, CA 95814		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 09/16/2010   S   100 D $ 0.7633 709,157 D  
Common Stock 09/16/2010   S   300 D $ 0.7637 708,857 D  
Common Stock 09/16/2010   S   200 D $ 0.7638 708,657 D  
Common Stock 09/16/2010   S   600 D $ 0.7661 708,057 D  
Common Stock 09/16/2010   S   300 D $ 0.7689 707,757 D  
Common Stock 09/16/2010   S   100 D $ 0.769 707,657 D  
Common Stock 09/16/2010   S   1,900 D $ 0.7694 705,757 D  
Common Stock 09/16/2010   S   500 D $ 0.7695 705,257 D  
Common Stock 09/16/2010   S   500 D $ 0.7696 704,757 D  
Common Stock 09/16/2010   S   900 D $ 0.7699 703,857 D  
Common Stock 09/16/2010   S   3,000 D $ 0.77 700,857 D  
Common Stock 09/16/2010   S   2,200 D $ 0.7701 698,657 D  
Common Stock 09/16/2010   S   1,100 D $ 0.7706 697,557 D  
Common Stock 09/16/2010   S   200 D $ 0.7707 697,357 D  
Common Stock 09/16/2010   S   6,500 D $ 0.7712 690,857 D  
Common Stock 09/16/2010   S   4,100 D $ 0.7713 686,757 D  
Common Stock 09/16/2010   S   1,200 D $ 0.7714 685,557 D  
Common Stock 09/16/2010   S   500 D $ 0.7729 685,057 D  
Common Stock 09/16/2010   S   100 D $ 0.773 684,957 D  
Common Stock 09/16/2010   S   100 D $ 0.7736 684,857 D  
Common Stock 09/16/2010   S   400 D $ 0.7742 684,457 D  
Common Stock 09/16/2010   S   400 D $ 0.7743 684,057 D  
Common Stock 09/16/2010   S   100 D $ 0.7752 683,957 D  
Common Stock 09/16/2010   S   100 D $ 0.7761 683,857 D  
Common Stock 09/16/2010   S   200 D $ 0.7763 683,657 D  
Common Stock 09/16/2010   S   1,400 D $ 0.7768 682,257 D  
Common Stock 09/16/2010   S   900 D $ 0.7769 681,357 D  
Common Stock 09/16/2010   S   100 D $ 0.777 681,257 D  
Common Stock 09/16/2010   S   300 D $ 0.7774 680,957 D  
Common Stock 09/16/2010   S   1,600 D $ 0.7775 679,357 D  

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Jones William L
400 CAPITOL MALL, #2060
SACRAMENTO, CA 95814		   X      

Signatures

 /s/ William L. Jones   09/17/2010
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
 
Remarks:
This is Part 3 of 4. There were more than 30 transactions to report.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

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