Let's turn this on its head.
If we stopped using oil-powered vehicles then we would not need to use any gasoline. Yhat sounds plain silly.
The fact is we have a need to travel, we're tied to combustion engines, ethanol from corn is the biggest (if not the best) technology we have to reduce gasoline dependence. It's got to be better than digging up sequestered carbon and squirting it into the atmosphere, and that's the real point. It is probably no worse than hydrogen powered vehicles in that respect.