No. It's much worse, actually. Significantly lower energy density so you have to burn more to get the same amount of work out of it PLUS, you have to take into account the amount of effort and energy that goes into making it in the first place. It's absurd that we even have to have this debate.
Not arguing that, just pointing out the problem with the whole ethanol debate in the first place. It exists only because the fucking environmentalist tyrants demanded it. Without the entire global warming scam, it would still be the afterthought it used to be.