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, 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

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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, 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.

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