Researchers at Texas A&M University have estimated that diverting corn to make ethanol forces Americans to pay $40 billion a year in higher food prices. On top of that, it costs taxpayers $1.78 in subsidies for each gallon of gasoline that corn-based ethanol replaces, according to the Congressional Budget Office.
From: http://www.bloomberg.com/news/2012-08-16/ethanol-in-gas-tanks-makes-food...
Ethanol is bad for the environment and bad for mpg.