Robert Bryce has a great piece on ethanol in The Examiner. If you haven't read it, please do so. Here are the closing paragraphs:
It's time to end the corn ethanol boondoggle. Despite decades of lavish subsidies, ethanol has done nothing to cut oil imports. Rather than further compound the mistakes that have already been made by increasing the volume of ethanol in the U.S. motor fuel supply, the EPA and Congress should recognize that ethanol is not, and has never been, an energy program.
Instead, it is a pernicious example of how agriculture subsidies are promulgated and expanded for the benefit of the few at the expense of the many.
I could not agree more.