I'm a big fan of the research and proposed ideas in regard to a large scale "algae to biodiesel projects," but don't feel confident to get into the politics of how alternative research dollars are doled out.
Here is a really well
documented PDF that outlines the projections and comparisons. I 'debate' with Mike Briggs
daily (of UNH group) and although he and I differ in politics and government involvement, we both would love to see advancement in Algae based Biodiesel alternative fuels. I'm confident that we'll see this entirely new "farming" in our future. Its excitingly promising both from an renewable fuel standpoint and an economic standpoint. (new industry and jobs)
That said ... its still future and not part of the 'for profit' business environment that in America we need to consider. The exponentially growing biodiesel industry is alive today because fuel prices are high and the US has strong agricultural industry. Using soy and canola is where US farmers and their associated supporters are banking. In my opinion that is just great .... let's keep the clean, renewable, domestic fuel moving moving and profitable for the businesses involve while other venture capitalist look to find better and more efficient crops and methods. (I suppose our tax dollars are going to be used ... yet I don't mind seeing private industry and investment driving R & D; would prefer the later WHEN it is possible.)
I hope the best technologies rise to the top, be they hybrid, hydrogen fuel cells or biofuels ... or a combination. Nevertheless, doing something today is better than waiting for something better tomorrow.