Nope. Our racing kart engines had their compression ratios upped to an extreme when they were converted to alcohol, and they ran the tanks dry _waaaay_ earlier than the they did before the conversion. Fuel/air ratio is about 3X for alcohol compared to gasolin- you're average car that gets 300 - 500 miles per tank of gas would be running out at 100 - 160 miles. And... people wouldn't buy it.
The higher heat (we used to melt the aluminum heads quite regularly on our alky burning racing kart engines) are going to spew NOx all over the environment.
Yeah, right - that's why everybody did it in the 70's when the oil embargo caused near-$4.00/gallon equivalent prices. Not. Millions of people looked into it, and nobody did it. It wasn't feasible for an individual to do, that's all.
New technology might get alcohol into cars in America OK, but people won't like it when they have to buy 50 gallons at a time in order to run a car for the former range of 300 miles, and with racing alcohol (methanol) going for around $9 a gallon, this could be cause for a revolution. Ethanol might be cheaper than methanol, but it'd have to be about a third the price of gasoline in order to start getting economically competitive.
We have to build a transportation system based on nuclear power or we're going to be in an oil-deprived, stone-age economy again eventually. And somebody better get nuclear fusion to happen, too, 'cuz we'll run out of Uranium someday too.
Dave Head