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Is there still green in ethanol?

Ethanol production in the US has more than doubled during the first part of this century, going from 1,770 gallons/year in 2001 to 4,855 in 2006. In 2007, the country prepared for both the largest corn planting year since WWII – 90.5 million acres according to US Department of Agriculture statistics- and a record number of ethanol refineries under construction- 86 according to the Renewable Fuels Association. With all the subsidies to be had- biofuel subsidies in the US are between $5.5 billion and $7.3 billion annually -, is it still a worthwhile investment?

In this video, Keith Gillard of BASF Venture Capital America talks about the green in ethanol