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   200 D $ 0.6284 856,651 D   Common Stock 08/19/2010   S   200 D $ 0.6287 856,451 D   Common Stock 08/19/2010   S   600 D $ 0.6288 855,851 D   Common Stock 08/19/2010   S   400 D $ 0.6294 855,451 D   Common Stock 08/19/2010   S   400 D $ 0.6295 855,051 D   Common Stock 08/19/2010   S   300 D $ 0.6297 854,751 D   Common Stock 08/19/2010   S   400 D $ 0.6299 854,351 D   Common Stock 08/19/2010   S   1,700 D $ 0.63 852,651 D   Common Stock 08/19/2010   S   2,600 D $ 0.6301 850,051 D   Common Stock 08/19/2010   S   1,367 D $ 0.6303 848,684 D   Common Stock 08/19/2010   S   200 D $ 0.6312 848,484 D   Common Stock 08/19/2010   S   500 D $ 0.6313 847,984 D   Common Stock 08/19/2010   S   300 D $ 0.6316 847,684 D   Common Stock 08/19/2010   S   300 D $ 0.6317 847,384 D   Common Stock 08/19/2010   S   600 D $ 0.6319 846,784 D   Common Stock 08/19/2010   S   700 D $ 0.632 846,084 D   Common Stock 08/19/2010   S   1,000 D $ 0.6323 845,084 D   Common Stock 08/19/2010   S   100 D $ 0.6325 844,984 D   Common Stock 08/19/2010   S   600 D $ 0.633 844,384 D   Common Stock 08/19/2010   S   300 D $ 0.6331 844,084 D   Common Stock 08/19/2010   S   100 D $ 0.6332 843,984 D   Common Stock 08/19/2010   S   100 D $ 0.6333 843,884 D   Common Stock 08/19/2010   S   400 D $ 0.6334 843,484 D   Common Stock 08/19/2010   S   1,400 D $ 0.6335 842,084 D   Common Stock 08/19/2010   S   700 D $ 0.6336 841,384 D   Common Stock 08/19/2010   S   1,000 D $ 0.6338 840,384 D   Common Stock 08/19/2010   S   77 D $ 0.634 840,307 D   Common Stock 08/19/2010   S   300 D $ 0.6341 840,007 D   Common Stock 08/19/2010   S   200 D $ 0.6342 839,807 D   Common Stock 08/19/2010   S   500 D $ 0.6344 839,307 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 3 of 4.

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