Another thing to consider is the btu rating of ethanol as compared to gasoline.
I don't know exactly, but I think gasoline is somewhere around 120,000 btu per part. Ethanol is only about 70 to 80,000 btu per part. That means that your engine needs to burn more ethanol to get the same performance as gasoline.
I'm doing this from memory. I don't remember the exact numbers, I read this in one of the popular science or mechanics mags.
Exactly. That makes gasoline even CHEAPER when compared to other energy sources. Again, another example of government intrusion (due to environmental issues) increasing the price of gas.