theodp writes "Over at BusinessWeek, Ed Wallace is creating quite a stir, reporting that not only is ethanol proving to be a dud as a fuel substitute, but there is increasing evidence that it is destroying engines in large numbers. Before lobbyists convince the government to increase the allowable amount of ethanol in fuel to 15%, Wallace suggests it's time to look at ethanol's effect on smog, fuel efficiency, global warming emissions, and food prices. Wallace concedes there will be some winners if the government moves the ethanol mandate to 15% — auto mechanics, for whom he says it will be the dawn of a new golden age."
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