I imagine you and I wouldn't agree on much regarding energy and the environment but I'm with you on the ethanol. At least ethanol from food sources.It is an interesting turn I agree, especially since Trump (says) he wants to increase ethanol subsidies which is very un-conservative & Obama-esk, in fact all subsidies of this loser of a product should be lifted and if it cannot survive then it wasn't meant to. It is a crappy fuel source, destroys your engine, raises the food prices, it has no place as a fuel additive or replacement so let the industry sink or swim on it's own. The point is that Palin has always put herself out there as a conservative and Trump has really not proven that he is one on most fronts but, Trump is definitely not an establishment candidate and maybe that is what Palin is endorsing.
You're probably right that Palin mostly likes the anti-establishment, "tell it like it is" side of Trump, but wouldn't that also exist for Cruz? Maybe she just thinks Trump has a way of winning and Cruz doesn't.