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From what i understand, oil is a funny thing. Just when they thought it's going to run out another monsterously huge reserve pops up somwhere in the world.
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This is like how we hear about a refinery burning down or a pipeline bursting inexplicably whenever the major travel holiday weekends come around each year causing prices to jump. Bafoons.
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We don't fund ethanol cause it's shit. Seriously. It's less efficient than oil, you need way more of it, it pollutes the atmosphere just with different gases, and it is impossible to use without fucking up car engines cause its so full of bio-crap. Petrol station filters need to be changed something liek 4-5 times as much as normal with biofuels cause of all the gunk in em. it's comparable to supermarket petrol in terms of the damage it does to your cars.
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Ethanol is much less efficient than gasoline, and the trouble with it is that it's largely 'incompatible' with certain types of neoprene and rubber; this includes fuel and oil seals in engines, rubber fuel lines, vacuum lines, etc in car engines designed to run gasoline.
The SOLUTION is to run the car off of gasoline VAPOR instead of ATOMIZED gasoline, which is what carburetion and fuel injection systems do to the gas. How does, mmmm, 120+mpg sound to you guys?