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Long before we run out of the cheapest shale oils that are now fueling the current American oil boom, and long before bio-engineers convince bacteria to excrete oil, hydrocarbon engineers will perfect cheap coal-to-liquids. (For a measured technical exploration of all this, see the National Academy of Sciences report.) The latter will unleash another boom.
FORBES: The International Energy Agency Catches Up With America's Oil Producers
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"Brazil was hardly touched by the credit crunch, they have had an amazing time with oil, sugar and bio fuels, " says Bellos.
CNN: Soccer stars return to booming Brazil
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President Obama specifically mentioned clean coal, shale oil and gas as well as well bio-fuels and renewable energy.
FORBES: Obama and Romney Drill for Energy Answers
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Oil giant BP, meantime, says that those bio-fuels could provide up to 23 percent of the global demand for transportation fuels by 2030.
FORBES: Can Ethanol Cut Foreign Oil Imports?
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And in 1993 we actually ran a vehicle on salicornia oil and wrote a paper where I said it will be bio fuel of the future.
CNN: Sowing the seas
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The Guernsey team are using a process called bio-remediation in the quarry, which uses naturally-occurring bacteria which eat oil as a food source.
BBC: Torrey Canyon seabed returns to normal after oil spill
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Further, corn-based bio-fuels used in transportation consume much greater amounts of water than does the drilling for traditional oil.
FORBES: Water Shortages May Leave Energy Producers Dying of Thirst
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Liban Egal, a Somali entrepreneur who grew up in Baltimore in America, has started work with an American-trained chemist to produce bio-diesel from animal fat, which the cattle-herding Somalis normally have in abundance, along with used oil and chemicals.
ECONOMIST: Somalia