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Good question - I just bought a boat that's been sittin' for 2 years - I gotta dispose of about 15 gallons of the stuff and have no idea what to do with it. I'll be watching this post for a good answer.
Take it to a "free" environmental cleanup collection, held once or twice a year in most areas.<br />Pay a chemical disposal company lots of money to take it off your hands.<br />Give it to someone that can dilute it and run it in their older tractor, dozer, or lawn equipment.<br /><br />Actually, with the gas prices going up, you may be able to sell it at the next stoplight.
My son, who is quite knowlegeable about things, says to add a couple of gallons to your car gas tank the next time that you fill up. Cars arn't very persnickety about it and you probably won't know the difference.
If I had 50:1 fuel I'd do what I've done many times: burn it in my carbureted pickup. I put 5 gallons in and fill the tank (about 14 gal total) and have never noticed one tiny bit of smoke or change in performance. Now, I don't do it a lot,(maybe once every few years) but there ya go.
I think the key is to dilute it. You can put a gallon or so in a car with a nearly full tank and its not going to hurt anything. Do that a couple of times and now you only have 7 or 8 gallons left in the boat and you can just fill it up with new and dilute the remainder in the boat tank.
I had a half tank of gas left in my boat that I bought last July. I topped it off on 4/09/05, launched the boat and it runs fine. Why dump good gas? I have an FI boat motor and an FI car engine . I wouldn't run bad gas in either. Bad gas smells bad. If it smells OK then run it.
I've ran out of gas and poured 5 gallons of 32:1 into the truck. It runs fine no problems with somke or anything, the cat takes care of that. Started pourin whats left in the boat at the end of a trip into the truck, been doin it for a few years. I do a carb blast once a year on the truck.