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I think Ethanol could be the future, and I don't think alternative energy really damages the automobile industry, no matter what energy source we as Americans eventually turn to.
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From what I've read, ethanol seems like a scam. We can't seem to make it in such a way as to be energy positive and the amount of land needed to switch from gasoline to ethanol would be incredibly large.
Electric cars of some kind seem more like the future than ethanol (w/o gov't intervention distorting the market, obv). I sure wouldn't mind driving something that looks like the
Tesla Roadster.