The advantage of methanol is that it is a liquid at room temperature with far higher energy density of 15 MJ/L vs 0.013 MJ/L for low density gas or 5.6 MJ/L at 700 bar. This means you could pump it into a regular gas tank like gas. You would need a larger tank since gasoline is three times more energy dense.
Methanol can be made by bacteria from sugar just as easily as ethanol can. Methanol can also be made from synthesis gas. Naturally BASF, my employer, makes catalysts for that. Synthesis gas can be made from nearly any biomatter like corn stover, switchgrass, or aged biomatter like coal.
What I just learned was the methanol is quite efficient in a fuel cell. Although it produces carbon dioxide, the greenhouse gas. If the methanol is originally made from waste carbon dioxide, the whole process could be carbon neutral though.
See my recent post on the stalling of cellulosic ethanol. For further reading on the methanol economy click here.