A century ago, Henry Ford’s first car ran on alcohol, while Rudolf Diesel fired his namesake engine with peanut oil. But both inventors soon discovered that “rock oil,” when slightly refined, held far more bang per gallon than plant fuel, and was cheap to boot. Oil soon left plant fuels in the dust. Only in periods of scarcity—like the OPEC oil embargo of 1973—did the U.S. and other countries turn back to ethanol, mixing it into gasoline to stretch supplies.
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