I think it could happen, especially when you have big investors like Vinod Khosla backing bio-fuels with dollars. Petroleum based cars will go away within the next 30 years, and will be replaced by EV and bio-fuel cars. When this happens it could be plausible to have bio-fuel NASCAR. NASCAR itself is based on engine restrictions, so why not make it also about fuel restrictions?
It is possible. It would be difficult to draw interest for such an event, especially since they would have to change the engines in the cars. This would be expensive because it is likely that the entire internal system would have to be adjusted to work with biofuel. Also, there would have to be enough biofuel available for the cars to use.
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