The Feds will push the biofuel fantasy until they drive the nation into the ground.
It is quite possible to create an organism that could be fed nearly anything and produce a high quality fuel.
But what it should be fed is corn stalks and other waste products, not corn or other foodstuff.
And people should just accept that we are going to pump out every single drop of economically available petroleum and burn it all up over the next few hundred years. Our entire economy is based upon petroleum and almost everything is made out of it.