Sorry ... be away too long. Spotted the 'OPEC' lobby angle working its way into the forum as those wanting to see all biofuels equally. Its just not true. Corn ethanol, or even soy based biodiesel (currently used in the U.S. to build a market) is not the same as where most insiders see algae based biodiesel going.
Before discounting biodiesel be sure to consider where that budding industry is going ... and that they are working hard to move toward high yield oil crops (ie. algae) that will not be competing with feed and food. View some the PDF
linked here, or keep an eye on the companies doing the next phase of renewables research.