The only greenhouse gasses produced by burning ethanol would be those produced by burning diesel fuel while growing the crops. All of the carbon which goes into the air by burning ethanol was taken out of the air by the plants last season. Note that the same is true of any oil be burn; that carbon was also removed from the atmosphere. The trouble is that it was removed many millions of years ago, during which time the atmosphere slowly changed, and life changed with it. The carbon from ethanol was likely removed last year.

There does seem to be some debate that ethanol takes more energy to produce than it gives. This view is advanced by the oil intrests, mainly. On the other side, farm intrests disagree. In each case, look at the source before you believe the results.

And yes, ethanol is a band-aid solution to a growing problem. But are you willing to get rid of your internal-combustion engines in the near future? If so, and if you can somehow get the rest of the rest of the country to agree, we will need no such band-aids.

Also note that flexible-fuel vehicles aren't that hard to build today. They run just as well on 100% gasoline, and don't cost much more to produce, so there is a very small loss for consumers who will never burn any ethanol. And while your fuel milage goes down when burning high-alcohol concentrations, your maximum power output can go up dramatically, if the car is engineered for it.