Green Drunk (on Ethanol)
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“The fuel, renewable and more environmentally friendly than gasoline, is already being used as a gas additive, replacing another additive that was found to pollute groundwater. The result: a squeeze on supplies that has doubled ethanol's wholesale price, to $2.75 a gallon, about what gasoline costs at wholesale. With corn prices low and gas prices high, ethanol's profit margin per gallon is at a record of more than $1”
“What of the promise of ethanol replacing gas? Don't count on it. General Motors Corp. (GM ) and Ford Motor Co. (F ) have made a push this year to promote vehicles that can run on gas or E85, a fuel that's 85% ethanol and 15% gasoline. But E85 gets worse mileage than gas, a problem if ethanol is costlier. And right now there are only about 600 E85 pumps nationwide”
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