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
OMB APPROVAL
OMB Number: 3235-0287
Expires: November 30, 2011
Estimated average burden hours per response... 0.5

(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, SUITE 2060		 3. Date of Earliest Transaction (Month/Day/Year)
08/19/2010
(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 08/19/2010   S   800 D $ 0.6122 900,757 D  
Common Stock 08/19/2010   S   1,300 D $ 0.6123 899,457 D  
Common Stock 08/19/2010   S   500 D $ 0.6144 898,957 D  
Common Stock 08/19/2010   S   11 D $ 0.6146 898,946 D  
Common Stock 08/19/2010   S   1,601 D $ 0.615 897,345 D  
Common Stock 08/19/2010   S   1,600 D $ 0.6151 895,745 D  
Common Stock 08/19/2010   S   900 D $ 0.6174 894,845 D  
Common Stock 08/19/2010   S   900 D $ 0.6178 893,945 D  
Common Stock 08/19/2010   S   900 D $ 0.619 893,045 D  
Common Stock 08/19/2010   S   1,200 D $ 0.6191 891,845 D  
Common Stock 08/19/2010   S   400 D $ 0.6193 891,445 D  
Common Stock 08/19/2010   S   4,600 D $ 0.62 886,845 D  
Common Stock 08/19/2010   S   2,075 D $ 0.6201 884,770 D  
Common Stock 08/19/2010   S   200 D $ 0.6204 884,570 D  
Common Stock 08/19/2010   S   1,800 D $ 0.6205 882,770 D  
Common Stock 08/19/2010   S   100 D $ 0.6208 882,670 D  
Common Stock 08/19/2010   S   200 D $ 0.621 882,470 D  
Common Stock 08/19/2010   S   429 D $ 0.6211 882,041 D  
Common Stock 08/19/2010   S   140 D $ 0.6212 881,901 D  
Common Stock 08/19/2010   S   2,400 D $ 0.6214 879,501 D  
Common Stock 08/19/2010   S   1,600 D $ 0.6215 877,901 D  
Common Stock 08/19/2010   S   100 D $ 0.6216 877,801 D  
Common Stock 08/19/2010   S   1,300 D $ 0.6217 876,501 D  
Common Stock 08/19/2010   S   100 D $ 0.6218 876,401 D  
Common Stock 08/19/2010   S   100 D $ 0.6221 876,301 D  
Common Stock 08/19/2010   S   200 D $ 0.6222 876,101 D  
Common Stock 08/19/2010   S   100 D $ 0.6226 876,001 D  
Common Stock 08/19/2010   S   1,700 D $ 0.6228 874,301 D  
Common Stock 08/19/2010   S   300 D $ 0.6229 874,001 D  
Common Stock 08/19/2010   S   100 D $ 0.6231 873,901 D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. SEC 1474 (9-02)

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, SUITE 2060
SACRAMENTO, CA 95814		   X      

Signatures

 /s/ William L. Jones   08/20/2010
**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 1 of 4.

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

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.