To answer the original question, you have to cook a study pretty hard to show any energy gains with ethanol from corn (still ignoring aquifer and pollution issues). Ethanol subsidies are welfare for farmers, and I used to think it made more sense than paying farmers to not grow anything, but I'm not so sure now.
As for Eric's question, the correct replacement is a mix of sources. Some solar (more in certain reasons of the country), some wind (more here in the windy parts of the country), lots more nuclear and clean coal for baseline, we'll still be stuck with gas for peak loads or making up shortfalls for lack of sun or lack of wind. If we power the grid with these (especially nuke) we have enough oil to make plastic and run our cars and antique tractors for a long, long, time.
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Today's Featured Article - Engine Valves - Some Helpful Information - by Staff. Intake - On the intake stroke the piston moves doward, sucking in carburized fuel through the open intake valve. Exhaust valve is closed. Compression - With both the intake and exhaust valves closed, the pistons upward stroke compresses or squeezes the fuel into the combustion chamber. Firing - Ignited by the spark, the compressed fuel explodes and forces the piston downward on its power stroke. Intake and exhaust valves are closed. Exhaust valves and seats are exp
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