Ethanol isn't a gas or even gasoline related. But that doesn't make his wording legal, I think. He doesn't give the total amount of energy his mustang is consuming at all. But if I'd wager a guess he has his "400hp" mustang getting 13 mpg city 20 mpg highway, with 16mpg being the mixed average. 16 divided by 15% = 106 and 20 divided by 15% = 133. That's not very spectacular even on E85. Not to mention the extremely limited platforms that even want a 5l V8 or even a 400hp engine!
I've seen that formula used to show what someone running E85 looks like to an Oil company. They write their E85 mpg next to their gasoline mpg. It's an interesting antic, but nevertheless inaccurate. I believe it takes twice that much oil per gallon of E85. But even then it not's about how much money they're saving either.
At least now you can remember that not all scams involve Nigeria
not even internet based scams. This reminds me of the TV drama (possibly CSI) that told a story of two brothers who ran a scam in an office in one of the Twin Towers. Soo much faux drama
.