With current technology and price structures, ethanol is more expensive than gasoline. New technologies offer the hope of significantly reduced costs. It can be produced at prices comparable to gasoline from natural gas and can also be produced from coal and wood. Many auto manufacturers have developed advanced M100 prototypes. Methanol has long been the fuel of choice for race cars because of its superior performance and fire safety characteristics.
Natural gas is abundant and is widely used for home heating and industrial processes.
It is easily transported through pipelines and costs about the same or slightly less than gasoline. But CNG fuel must be stored under pressure in heavy tanks, and the cost of accommodating these tanks must be considered. It burns more cleanly than gasoline but is limited in supply. Propane-fueled vehicles are already common in many parts of the world. The petroleum industry is beginning to market gasoline formulations that emit less hydrocarbons, nitrogen oxides, carbon monoxide, and toxics than conventional gasoline.