The Macon Telegraph (Macon.com) recently ran an article looking into Range Fuels, a failed cellulosic ethanol venture that received considerable government backing. According to the article, they really only produced test batches of methanol, not ethanol, before proceeding to commercial scale. Obviously this was a huge risk since the end goal was production of both methanol and ethanol. Enthusiasm outpaced common sense. Hopefully lessons were learned.
Range Fuels failure raises the question: How much risk should the government take with taxpayer dollars? - Local & State - Macon.com:

Range apparently never produced ethanol. It produced a test batch of methanol -- wood alcohol, which is a lot cheaper and less useful -- before it shut down almost a year ago.