The trade groups will always try to protect their best interest whether it is oil industry or the ethanol industry. I think ethanol is worth an investment. I understand the concerns that it uses more water and has less net energy gain. However, those seem like the result of lack our knowledge and use of technology to efficiently produce the ethanol. Everything that is new and requires change looks difficult in the begining. For example, when computers came out people thought that it will take away jobs. However, as we can see now that computers actually replaced those jobs by high paying jobs and improved efficiency in everything that we do today.
As far as ethanol producing less net gain is concern, read article at http://www.transportation.anl.gov/pdfs/TA/267.pdf and decide.
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