Sequestered within the pages of auto industry news, came notice of a recent EPA approval that could cause unexpected repercussions across a wide range of investor and consumer interests. The EPA has just given its approval for a 5% increase in the amount of ethanol allowable in today's motor fuels. While the petroleum industry has not yet given indication whether or not it shall make the new fuel blend available to consumers, various business sectors and government entities are quickly aligning themselves either pro or con on the issue. One thing is almost certain, corn futures just became more volatile.

The auto industry is largely against the increase in ethanol concentrations, citing the fact that a 15% ethanol mixture cannot be safely and efficiently burned in vehicles manufactured before 2007. Consumers who mistakenly pumped E15 gasoline into those older vehicles would run the risk of damaging their car engines and defeating the emission equipment and mileage standards of their vehicles.

The idea behind switching energy usage from fossil-based fuel like gas to ethanol is that it is better for the environment. Much of the push to create alternative energy companies has been based on this premise and it has also helped the American farmer get more for crops like corn.

Now it appears that ethanol may not be so "green." According to The Wall Street Journal (subscription required), "a study published in the latest issue of Science finds that corn-based ethanol, a type of biofuel pushed heavily in the U.S., will nearly double the output of greenhouse-gas emissions." A second study appears to support those findings. Part of the CO2 increase created by biofuels is due to changing land from forest to farmland. The process causes large amounts of greenhouse-gas emissions to be sent into the atmosphere.

The news is hardly good for the hundreds of biofuel companies that have been created around the drive for "green" fuel, and it may not be good for farmers who are getting higher yield from the crops they plant to create alternative energy.

But it may be very good news indeed for Big Oil.

Douglas A. McIntyre is an editor at 247wallst.com.

I've just arrived back from a cyber jaunt over to Autoblog.com where they are in a lively discussion about the latest look for the Chevy Malibu. General Motors (NYSE: GM) has created a new look for the Malibu for 2007. Opinions run the gamut from soul gushing infatuation to down right ugh. So far the car has received much more praise than it has taken jabs. I haven't seen enough of the exterior of the car to decide whether I like the way it looks or not, but the interior picture they're exhibiting over there pleases me quite a lot. If the car has good body lines, it should draw ample attention.

What I initially was going to write about GM was in regard to the viewing I had of the little beauty that my brother got his hands on. He bought the first GMC Flex Fuel Sierra 1500 which is available in his part of the state. It's a beautiful truck inside and out, yet looks as rugged as any truck I ever owned. The interior is cleaner and smoother than any truck I've ever been in. But that's not what impressed me the most.

On the rear of the truck, right by where it says Sierra, there's a special little plaque with the words Flex Fuel emblazoned on it for all the world to see. Simply put, his new truck will drink E85 and be just as happy as if it were indulging in gasoline.

Please send word to OPEC and the other oil exporting nations who laugh when they talk of the power they have over us -- we're still a nation of innovators over here. We're still a people who see a need and fill it. We still know how to experiment and engineer. We still have the will and desire to be the best. We refuse to be held hostage by crude oil any longer and if they don't believe it, well ... frankly ... they can kiss my gas ... E85.