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You should be at about 70% of the energy of pure gasoline per pound.
If you only lost 2-3 mpg, that is astounding!
Well, for some more real-world numbers, I took a 200 mile road trip today to a car show, and filled 'er up with E85 before leaving town, reset the mileage computer, and headed down the road. Mostly highway driving at 58-62 MPH yeilded me an average of 16.8 MPG. So yes, almost exactly 3 MPG less than the EPA rated this vehicle at burning gasoline. EPA is 15/20.
I too have known some FFVs that really take a nosedive in economy when burning E85. Case and point, my dad's Dodge Ram...He only gets about 12-13 MPG in mixed driving burning corn. But then again, I don't think it's that much more burning gas. Probably only about 15-16 on gas. I think EPA was 12/17 on his truck.
Ford claims they gain power on E85. They rate my 4.0 SOHC V6 at 210 HP/254 lbs. ft. on E85, and 205 HP/247 lbs. ft. on regular gasoline. So 5 HP and 7 lbs. ft. torque increase on E85. They claim it's because they can run a more agressive advance curve on E85 due to its much higher octane rating. Other Explorer owners over at
www.explorerforum.com have also commented that their engines feel smoother and more powerful on E85 compared to gasoline.
Since it's drastically cheaper than gasoline here, I'll use it every chance I get. As much driving as I do, it's saving me roughly $100 a month in fuel costs! The gain in MPG on gasoline is factored in to my calculations too.
The naysayers can spout their rhetoric all they want...These are real world numbers which aren't nearly as poor as some would want to believe. Most the people that throw E85 under the bus have never owned a FFV and have absolutely zero experience with it.
BTW, gasoline just went up again here. $2.999/gallon for regular. E85 is $2.049 at the stations that the ethanol plant owns, otherwise Kwik Trip stores sell it too, but it's much more expensive. It's $2.639 there.