Yes and no with algae. Algae can be used to make both bioethanol and biodiesel, but while it is found in the ocean, it is not likely we will be able to use the ocean to grow this algae. Currently the research toward this end requires the algae to be grown under specific conditions that need to be highly regulated.
But yes for seaweed. There are plans to make bioethanols from sea weed cultivated from seas and oceans.
Algae is best grown in large, uninhabited areas like the desert SW. To agree with GreenBean, algae can be produced in the ocean but aside from lack of ability to monitor the conditions, it could be intrusive the wildlife and overall ecosystem to engage in harvesting for biofuels.
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