I retrieved some isopropyl alcohol from work , about 30 gallons I think, to save them the expense of having to dispose of it. The drum was not sealed with a cap and I didn't know for how long. I put it in some heavy plastic 5 gallon jugs similar to what it would come in if you bought it that way, figuring to just use it as a cheap solvent for cleaning stuff and such. i gave 5 gallons to a friend who is into model live steam trains to use as fuel for those, and it would not ignite in any way, shape or form for him. So in a word, yes, it will absorb enough water to the point it won't burn. Just think what the gas in your car's tank has in it!
Type at you later,
Dan McEntee