plankton oil
 

http://today.reuters.com/news/newsArticle.aspx?type=scienceNews&storyID=2006-07-20T154615Z_01_L20780759_RTRUKOC_0_US-ENERGY-SPAIN-PLANKTON.xml

A notable quote: "Our system of bioconversion is about 400 times more productive than any other plant-based system producing oil or ethanol"

That seems a bit high to me, but they promise production in 14 - 18 months. We shall see.

Strange article, not a lot of info tho. I have heard of phytoplankton to oil research before tho and the CO2 sink theories.