In addition, in the marketing and distribution segment had a lower than expected quarter, but we still remained and expect to be on track to equal or exceed last year with an excellent Q2 coming up, possibly a record quarter for that segment. We are very much on track to deliver $50 million of non-ethanol operating income in 2012. As we mentioned in our earnings release yesterday, we redeployed a portion of our rail car assets in the first quarter for other uses and we are increasing that redeployment to about 11% of our tank car of 180 rail cars or 180 rail cars.We currently run a fleet of over 2,200 rail cars between Tanks and Hoppers. Recently I’ve seen lease rates and tank cars increased due to increased demand for domestic oil production. While we certainly could have just leased cars to other counter parties, we saw the opportunity to use our strong financial position, expertise in trading and risk management and our advantaged position of rail assets to launch a new initiative to capture more value for our shareholders by injecting ourselves as a counterparty and the movement of the commodities.
Green Plains Renewable Energy's CEO Discusses Q1 2012 Results - Earnings Call Transcript
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