let me start by saying I am very against ethanol.
however the Co2 situation is a little more complex as the corn captures Co2 from the atmosphere as it grows, this is offsetting the release when the fuel is burned. Burning oil releases previously sequestered Co2.
So, when burning gas we are pumping Co2 into the atmosphere that was trapped for millions of years, when burning ethanol we are releasing Co2 that the corn trapped while growing.
bottom line though, this technology was adopted by GM because it let them keep making crappy cars, but act like they are trying to move in the right direction. This is THE only play GM knows how to make. Every time an emerging technology threatens their old reliable predictable internal combustion system they act as if they are adopting it and then intentionally squash it. The ethanol thing just lets them skip the adopting something new and just jump head first into the bad decision part of the process.
dont count on GM ever moving towards a good sustainable solution to transportation. If you need a reminder just look at their history. They were prosecuted for destroying mass transit. Destroying electric mass transit and installing internal combustion buses. They ripped up the tracks so no one else could come in and replace the trollies.
I urge everyone to read the book "Internal Combustion"
http://www.amazon.com/Internal-Combu...821940-5909420
get the audio CD and listen to it while you commute. Towards the end you will start to get a very clear picture of why GM is the way it is. Sickening, frightening, and bleak.