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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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) 09/02/2010 (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 09/02/2010   S   200 D $ 0.5739 777,607 D   Common Stock 09/02/2010   S   500 D $ 0.575 777,107 D   Common Stock 09/02/2010   S   900 D $ 0.5757 776,207 D   Common Stock 09/02/2010   S   300 D $ 0.5758 775,907 D   Common Stock 09/02/2010   S   800 D $ 0.5761 775,107 D   Common Stock 09/02/2010   S   200 D $ 0.5763 774,907 D   Common Stock 09/02/2010   S   1,300 D $ 0.5768 773,607 D   Common Stock 09/02/2010   S   800 D $ 0.5769 772,807 D   Common Stock 09/02/2010   S   600 D $ 0.5777 772,207 D   Common Stock 09/02/2010   S   250 D $ 0.5778 771,957 D   Common Stock 09/02/2010   S   100 D $ 0.5783 771,857 D   Common Stock 09/02/2010   S   400 D $ 0.5789 771,457 D   Common Stock 09/02/2010   S   400 D $ 0.5793 771,057 D   Common Stock 09/02/2010   S   1,000 D $ 0.5795 770,057 D   Common Stock 09/02/2010   S   100 D $ 0.5798 769,957 D   Common Stock 09/02/2010   S   100 D $ 0.5799 769,857 D   Common Stock 09/02/2010   S   4,300 D $ 0.58 765,557 D   Common Stock 09/02/2010   S   1,000 D $ 0.5801 764,557 D   Common Stock 09/02/2010   S   2,400 D $ 0.5802 762,157 D   Common Stock 09/02/2010   S   900 D $ 0.5803 761,257 D   Common Stock 09/02/2010   S   800 D $ 0.5808 760,457 D   Common Stock 09/02/2010   S   100 D $ 0.5821 760,357 D   Common Stock 09/02/2010   S   1,200 D $ 0.5822 759,157 D   Common Stock 09/02/2010   S   200 D $ 0.5826 758,957 D   Common Stock 09/02/2010   S   600 D $ 0.5835 758,357 D   Common Stock 09/02/2010   S   100 D $ 0.5851 758,257 D   Common Stock 09/02/2010   S   3,000 D $ 0.5853 755,257 D   Common Stock 09/02/2010   S   100 D $ 0.5858 755,157 D   Common Stock 09/02/2010   S   100 D $ 0.5859 755,057 D

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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		09/03/2010
**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 2 of 3. There are 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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