There is no free lunch.
EtOH has less energy content than does gasoline. Last year I noticed that my Highway mileage dropped from 30 to 27 MPG, but I am paying the same, or more.
It's feel-good scam at present.
I recently read an article where automotive companies get credits for flexible fuel vehicles. Apparently, automakers have to meet a CAFE standard which mandates an average MPG for all vehicles produced.
A loophole is that flexible fuel vehicles are assumed to be running on 90% ethanol full time
The way the math worked, a Hummer gets 35 MPG (on gasoline).
Mind you, I do support alternatnative fuel/ power sources; only if they meet real objectives and goals.