You can think of ethanol as a hydrocarbon that is already partially oxidized (C2H6O). It's like it has already started its trip across the oxidation table to CO2. I think the MPG you get from the 10% ethanol stuff must be lower than a pure hydrocarbon gasoline under the same conditions.
That said, I use the ethanol containing gasoline and don't worry about it.
1948 3/4-Ton 5-Window Flatbed Chevrolet 34 Years. Now with a '61 261, 848 head, Rochester Monojet carb, SM420 4-speed, 4.10 rear, dual reservoir MC, Bendix up front, 235/85R16 tires, 12-volt w/alternator, electric wipers and a modern radio in the glove box.
