That's only being seriously pursued in Brazil, where they have a *lot* of cane production already set up, and a beautiful climate for growing it. The U.S. can't grow cane except in the deep south and Hawaii. Meanwhile, most of the continental U.S. is perfect for growing corn.

I think we're less likely to want to import sugar for biofuel than for food (and the Caribbean isn't anywhere close to using their own sugar for ethanol, which prevents the market from tightening). So long as our climate is better suited to corn -- and the politicians in corn states keep a lock on the subsidies -- I suspect we'll stick with that and switchgrass. By the time we warm up enough that cane production might spread into the heartland, the ethanol fad will be over.