Skeptic's Corner: They did not come

One of the unintended consequences of the global warming agenda, is the false dream called ethanol. The absolute waste of money, the stupidity of burning food and all the false hopes associated with this boondoggle. When will governments realize that markets are not only the best way to generate economic growth and innovation, they are ultimately the fairest. Bio fuels may have a place in our energy future if they can be made economically viable, but this continued subsidising of the unprofitable by the government is the path to a nightmare, not a field of dreams.

The Ethanol Bubble Pops in Iowa - WSJ.com

More evidence the fuel makes little economic sense.