Why would methanol make a good alternative?

The benefits of methanol include: Improved safety—Methanol has a lower risk of flammability compared to gasoline. Increased energy security—Methanol can be manufactured from a variety of carbon-based feedstocks, such as natural gas and coal. Its use could help reduce fuel use while advancing domestic fuels.

Beside this, what are the uses of methanol?

It is used as antifreeze, solvent, fuel, and as a denaturant for ethanol. The chemical is also used to produce biodiesel via transesterification reaction. Because methanol has toxic properties, it is frequently used as a denaturant additive for ethanol manufactured for industrial purposes.

Why is methanol used as a fuel in car racing?

Methanol has less energy content than regular gasoline, so vehicles get about half the mpg out of the fuel. But it has a higher octane. As the smart people at Hot Rod magazine explain, race-car engines are built to squeeze more power out of that less-energy-dense methanol, by adjusting the air-to-fuel ratio.