Is Ethanol a viable alternative to petrol in terms of automobile technology?

My understanding is that as far as performance goes ethanol is basically equivalent to petrol. However, I also understand that ethanol is slightly less efficient. Converting a gas engine into an ethanol engine is actually more difficult than some would have you think. Ethanol is slightly more abrasive than gas thus it can cause certain parts in a gas powered car to break down. You will most likely have to replace all of your fuel system (including the tank) and some other engine parts in order to make the change.