No. Ethanol has a positive energy balance of 125%, which means that the energy contained in a volume of ethanol is more than twice the energy that was required to make the ethanol (i.e., grow the corn, turn it into ethanol). This means that there are probably fewer carbon emissions from ethanol production than from burning ethanol for fuel, if energy use is proportional to carbon emissions, which it probably is because ethanol production requires the use of a series of machines, from the farm equipement to the distillers, all which require gas or electricity to run.
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