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With the algae that is true, it only functions in sunlight.
The bacteria don't actually require sunlight. They run on Chemosynthesis. Currently these bacteria operate on the ocean floor in no light conditions.
It also has huge advantages because the bacteria is not becoming the fuel as it does in most of the algae situations. Those schemes are really just accelerated petroleum growth techniques, while this is what trees do. They take CO2 and convert it to O2. These creatures take CO2 and convert them to various forms of HCs.
The other large advantage to this technique is it actually helps consume the CO2 you produce. I'm not sure if I buy into GHG CO2 being a problem or not. Nature is incredibly flexible and I can only assume that in producing a vast amount of something nature will allow runaway growth of a plant that devours that(like a free market if there is something to be had for free there will be someone to sell it). But even if CO2 is not a dangerous GHG then its plentifully available in most of the processes we enjoy. So we can make our overall gneration of electricity far more efficient by piping our CO2 through vats of bacteria that convert it to fuel and reduce emissions.
Whichever country is able to get a jump on this first is likely to become not a world leader but THE world leader. The fuel would be conveniently delivered to the surface in near consumable condition and the refineries would not have to transport the fuel as far(plants that produce plenty of CO2 for the process are all over the country so fuel is no longer being shipped from Texas to the various corners of the US its just being shipped around the corner).
The US might not be able to go "off-the-grid" with it but with out own wells we could definitely stop importing it.
If global warming is happening and its our fault removing 20% of global emissions would be one huge step towards stopping it. I don't think its happening but then no one will ever blame us again no matter what.
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