As with much of the "alternative energy" stuff, the idea of cars fueled with veggies has been around a LONG time, in fact since the very start of car making!
My buddy (neighbor of extendaflue shop) is a young guy selling millions of dollars worth of veggie fuel conversions - Greasecar -
http://www.greasecar.com
But don't forget that Henry Ford not only saw the future:
"Henry Ford shared a similar vision with Rudolph Diesel. He believed plant-based fuel to be the basis of the transportation industry."
But he also actually built car bodies from soybeans! Later in life, he farmed experimental plots in Mich. which were designed to further his vision:
(broken link removed to http://www.thehenryford.org/research/services/populartopics/SoybeanCar/default.asp)
Actually, it is on my list of places to visit - never been to Detroit!
The point is that we are acting like stuff a century old is "new". It is not. Plant based fuels have their own problems, not the least is evident today in the run-up of food prices because of ethanol production.
The key, IMHO, is conservation of every energy resource - at least until the day when solar and fusion are perfected (a LONG way in the future).
It all comes down to the equation of "energy in vs. energy out".....and, of course, pollution out! I still have a book on my shelf which was the first one that showed me the relationship between calories in and calories out. This applies to everything, from fish farming to beef productions.
As a for instance, the production of beef requires 15 pounds of feed protein in order to produce 1 pounds of meat protein. So this means you take 15 dollars to the bank and they give you 1 dollar in trade. It is 100% impossible for all humans on the earth to eat beef because we could never produce enough. This is simply the energy equation.
That is why I barf when I see the ads for giant GM SUVs which are fueled by corn, etc. It is the equiv of putting a big middle finger up to the rest of the world and saying "watch me ride to the shopping mall using YOUR food".