Big Oil has won all Pageants to date. It is high time to stop scapegoating Ethanol. Our cost in income taxes alone for access to mid east oil runs in the hundreds of billions of dollars a year. The paltry amount Ethanol has received pales in contrast. Even Big Oil gets the 51 cent subsidy in most cases since it is they who blend Ethanol and the one who blends it, is the one who gets to pocket it.
Retired world bank economist Joseph Stiglitz has discovered the war on some terrorists has cost us an extra hidden 2.5 trillion dollars to date. Since most of that goes into the Pentagon to make the world safe for oil giants like Haliburton and the Majors, we need to realize that the price we are paying at the pump is just a down payment for gasoline. Taxes on debt will make it $15 a gallon.
Engines designed to run on 100% Ethanol are up to 46% thermal efficient.
You auto is lucky if it is 20% thermal efficient on pump gas.
There are ways to make Ethanol without using any cropland, by feeding primary treated waste water to feed cattails on marginal land, empty gravel pits, etc There is enough waste water to feed the under 20 million ag acres needed leaving over 1.3 billion ag acres for other uses. Netting 150 billion gallons of Ethanol or equivalents as methane for piston fueled vehicles, including light aircraft. The US uses about 145 billion gallons a year. It wouldn't hurt America to have more productive jobs either.
Get a copy of "Alcohol can be a gas" by David Blume and get informed.

There is a much fuller explanation of the problems with articles by Stossel, Williams, and others here:
http://roberto-de-sonora.blogspot.com/2008/05/end-all-subsidies-to-alternative-energy.html
and Here: http://tech.groups.yahoo.com/group/alcohol_fuel_production/message/375
If one is going to attempt to find fault with one energy source then the same measuring stick should apply to others.

Not only are all those negatives true about ETHANOL.....BUT no one speaks about the LOWER mpg when using ethanol added fuel. I only get 17 MPG in my Honda Accord when I buy the MANDATED ethanol gas in Chicago where I live. When I buy gas in Indiana or other states without ethanol I get 31 MPG! Have tested this numerous times.
That means I must buy and use much MORE GAS TO GO THE SAME DISTANCE. HOW DOES THAT SAVE FUEL OR POLLUTION??
Who decided on this terrible waste of my money? Agriculture Lobbyists created a real SCAM. It was obvious from the start that 10% corn ethanol added to fuel would result in lower MPG. Obama pushed mandate through for Illinois and NOW Congress decided to continue those subsidies for corn ethanol.
I am totally disgusted with the Fed. Govt. and its falling for pressure from Lobbyists.