As we speak, pilot projects are underway to digest cellulose (i.e. vegetative waste) into fuels using genetically engineered microorganisms. If this scales successfully, we will have achieved a virtually closed loop solution to the energy needs of the foreseeable future. It will add no more CO2 to the atmosphere than the vegetation was able to take out of the atmosphere when it grew. Agriculture countries will be the big energy producers and we can ostracize former oil countries.
We should have nuke plants, so at least there will be reliable sources of power for heating. Too bad the greenies are such weenies about nuclear power, since it doesn't create the CO2 that burning fossil fuels does.
Algae-oil also feeds off raw sewage from humans and animals. There is no special treatment. All you need is a pipe to the algae growing facility. The food we eat gets a second use after it is flushed down a toilet. Once that sewage becomes algae-oil you can use it to farm more food.
Algae-oil is very efficient. It requires less space and less energy than setting up a crop field, and then use the crops to feed a fermenter. With proper techniques, it is possible to grow 20,000 gallons of algae-oil per year per acre.
Algae-oil has more energy per unit than ethanol.
Algae-oil does not have the problems when transported through pipeline that ethanol does. Ethanol has the property of absorbing water. The water in ethanol can corrode the steel in pipelines. If the ethanol absorbs too much water in the pipeline system, it becomes unusable as a fuel.