Ethanol is a renewable fuel, since it comes from corn and other vegetable sources which can be harvested and replanted. This is in stark contrast to fossil fuels, which take millions of years to create, and which we use at a rate which is far beyond our ability to keep up with.
According to those inside the ethanol industry, the use of ethanol during the past year helped to reduce the price of oil by 89 cents per gallon, saving Americans on the average about $800 last year. The ethanol industry employs almost 70,400 Americans and helps to sustain about 400,000 other jobs.
The use of ethanol as a fuel also helps to reduce the carbon footprint left behind when fossil fuels are burned. Many research studies and comparisons show that the difference is as much as a 40%-60% reduction.
Politically, the use of ethanol helps the US reduce its dependence on oil imports from countries in the Middle East, and other places, making the US more self-reliant and independent.