No this isn't a how to turn Rush and friends into a barrel of oil, although the thought has some appeal. Instead this is about the use of algae to produce biodiesel that is a viable source of environment friendly alternative energy.
According to an article I found on CNet it looks like algae could be one magic bullet in our fight for energy independence.
Using algae as a source of renewable energy has many benefits over other possible biodiesel sources. Some of those benefits are as follows:
1. It doesn't require the use of potable water or the use of land that now grow food crops.
2. Algae takes about a third of the water as it takes to grow soybeans.
3. The overall yield per acre is superior to all other crops used for biodiesel.
4. Algae can be growing using animal and human waste products.
5. Algae grows at a much faster rate compared to other crops.
Biodiesel is a environment friendly fuel because it has a closed carbon cycle. Biodiesel compared to petroleum diesel produces substantially reduced emissions.
I believe biodiesel is one of several ways in which we can achieve energy independence while reducing greenhouse gas emissions and algae appears to be the best way to get there.