Could US industry support the large demand of E85, or Hydrogen, if they became the primary methods of fuel?

Lets say that its 20 years later (or whatever) and cars in the US are fueled by E85. Would we be better off, cost-wise, then we were buying gas? That is to say, could the US farming industry support a large demand of E85, and keep the prices low (and by low, I mean under $2).
Same question for Hydrogen: could it be produced with such volume to keep the prices low enough?
I guess the overall question is, are these alternative fuels capable of being more financially feasible then gas is to us now?