It costs more to make E-85 ethanol instead of regular gasoline. In addition, if made from feed crops, it tends to raise the price of crops sold to farmers to feed farm animals, thus the price of ethanol fuels should figure in that increase in food prices, but it never does. Also, ethanol fuels provide less fuel economy, so that increase should be factored into the price per gallon.
It is only on the market because of local mid-west political pressure and resulting tax cuts. [The air pollution issues is man made since additives would not have been needed if extra hardware was installed in the vehicle]. Thus we are all paying for its utilization by having to pay taxes elsewhere to make that loss up. All in all, it is a very mixed picture.
It would be far more positive if the USA adopted a policy of converting waste crops and waste bio-mass into ethanol fuel, but we have that powerful mid-west farm lobby to contend with.
Richard.