I got a green one too from the 60s. This red one is from the 50s.
I rebuilt the red one and did the exhaust putty mod on the fuel/air mix tube so it wouldn’t smell during use.
Unfortunately, I haven’t gotten the new valve stem to stop leaking yet.
Coleman fuel is closer to naptha or gasoline without additives. Kerosene isn’t voltatile enough so it would be hard to start. They did make models that ran on kerosene, but they had a preheater cup at the bottom of the generator tube that you’d fill with alcohol and light to preheat the generator to help the kerosene evaporate.