Henry Ford’s first engines used alcohol and it was reported that he was adamantly against using gasoline because of its volatility and explosion danger. It is claimed that he was literally FORCED by the bankers, J.P. Morgan and Rockefeller, to burn gasoline or face bankruptcy and ruin (or even “worse”). Is this true?

This is, in fact, true. There is an advantage with respect to caloric content of equal amounts by weight in favor of gasoline holding more energy and, therefore, being a richer fuel source that will burn hotter and this can be quite advantageous in manufacturing particularly. Alcohol is not an ideal fuel. Its production causes great environmental waste and potential damage if not managed carefully and the whole point of finding cheap energy mandates that it must be something simple and quick with little muss and fuss as all of that adds considerably to cost, and cost is always everyone’s bottom line.