In my opinion biofuel made from algae has the most promise. Algae photosynthesize extremely quickly. Organizations are currently using such techniques to make fuel that can be used for many applications such as automobiles and aircrafts. The upside is that the carbon impact of the fuel itself is nil because it is the amount of CO2 released is equal to what was taken in for photosynthesis. There are a couple of issues that exist for this type of fuel. One is that it will take energy to create the conditions necessary to propagate algae and refine the biomass into fuel. Such energy needs will have a negative environmental impact. The other issue with this fuel is that it is currently more expensive than its gasoline counterpart but with time and economies of scale that could change.
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