Ethanol is probably fine until everyone decides they want to use it. A few months back we had a thread about growing your own rapeseed crop to supply biodiesel. All in all a more efficient thing to do as diesels are more efficient engines than are gasoline engines. However, in order to supply all the diesel vehicles on the road today with biodiesel which is homegrown you would have to plant all of the arable land in the country with rapeseed or soy and you'd still come up short. Not very practical.
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-livin' in the terminally flippant zone
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