The real key to a methanol/ethanol fuel economy
Is being able to efficiently and cheaply create these fuels from plant waste or plants that grow in dry conditions and lousy soil. Fuel from corn, or even sugar cane, is too high-maintenance, and uses up land that can be used for food crops.
There are millions of acres of scrubby, crappy, hard-pan land in the U.S. Find something that will grow there, and can be used to produce fuel, and you'll have something. There is research into this going on.