Here's a rather long analysis on biofuels.
http://www.oxfam.org.uk/resources/po...ient_truth.pdf
It should be clear ( unless you're from an area that financially benefits from biofuel production
) that with the current crops and technologies available here in the US, biofuels are either niche products, or dead ends. (note, this don't include biofuels made from waste products!) It might take a few more years until people and lawmakers wisen up enough to end the non-sense, and invest in technologies that are sustainable, and are capable of replacing crude. Solar panels, nuclear plants, or algae 'farms', just to name a few.
Here's a paragraph from the aforementioned paper:
The USA currently grows enough corn to meet 16 per cent of its oil use, if it used the entire corn harvest for ethanol, and left none for feed, fuel, food, or export. In the case of the EU, the European Environment Agency’s Scientific Committee, after estimating the amount of available arable land for bioenergy production, concluded ‘the land required to meet the 10 per cent target exceeds this available land area even if a considerable contribution of second-generation fuels is assumed’. Analysis by LMC International suggests that if all the carbohydrates in the world were converted to ethanol, this would still only provide enough ethanol to replace 40 per cent of global petrol consumption. Converting all global oilseeds to biodiesel would only displace 10 per cent of diesel.