How potent can methanol be as a fuel someday?

There are so many ways this discussion can be taken. Do not talk about whether or not to drill for oil in this country, CAFE standards, or not now because of low production. In the next 10 years, is this possible? I was told it would cost no more than $400 for the conversion on today's cars, is cleaner than oil, but has only half the gas mileage. There is a point that if unleaded goes too low, that methanol will not be worth the price, based solely on saving money.