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From what I've read, you can use it once or twice but long term, ethanol is corrosive to the rubber seals in the fuel system of a regular gas engine. The seals in line coupling, fuel pump and injectors would suffer from long term exposure. The Ranger and Taurus FFV's have a different rubber compound (more expensive) that is impervious to ethanol. In theory, there could be kits available to turn your truck into an FFV but they are not available because of the high cost of getting them approved/certified. Technically though, it is entirely possible to turn your truck into an FFV. (Ford already did it with the Ranger and Taurus, right?)
yea ... it would be over time that it will eat through the rubber though, its not going to do it over night ... so if you ran a blend, or ran a tank once every couple tanks, i wonder how much it wouuld effect the vehicle during the usefull life of those parts anyhow.