First measurements of the adiabatic laminar burning velocities of lean ethanol + oxygen + carbon dioxide flames, at 1 atm and initial gas mixture temperatures of 298, 318, and 338 K, are presented. The oxygen content O-2/(O-2 + CO2) in the artificial air was 35%. The laminar burning velocities were determined using the heat flux method, where a non-stretched flame is stabilized under adiabatic conditions. The measurements were found in qualitative agreement with modeling performed using the Marinov model, the San Diego model, and the model by Leplat et al. In comparison to experimental data, the Marinov model gave the best quantitative agreement Notable quantitative differences between the models were analyzed using sensitivity analysis and reaction path diagrams. Reaction path analysis showed that the Marinov and the San Diego models have the same 12 most important species. Among the 12 most important species in the model of Leplat et al., 10 species are in common with the other two models. According to predictions of the Marinov model, combustion of ethanol in air and at oxy-fuel conditions proceeds via the same reaction path; however, the sensitivities of the key reactions are different.