My name is Cameron, and this is my story of what I think will save the WORLD!
Biofuels: The problem with biofuels is that they are not economically viable. To compete with fossil-based fuels, they have to have significant subsidies. A 2009 article by Doug Koplow at Earth Track, Inc., predicted that biofuel tax credits, tariffs and mandates in the U.S., alone, would total $420 billion in federal subsidies to the biofuels sector between 2008 and 2022. It is those subsidies, alone, that allow biofuels to be competitive cost-wise.
Interestingly enough, another study—published in 2014, in Energy Policy (Grafton, et. al., Elsevier, volume 68, May 2014, p. 550-555)—failed to identify any contribution to the lowering of greenhouse gas emissions from biofuels. To the contrary, the report noted that results indicate that subsidies for first-generation biofuels, which yield a low level of per-unit CO2 emission reduction compared to fossil fuels, might have contributed to additional net CO2 emissions over the study period. Most countries in the developed world now have, and have had, biofuel subsidies programs. Some, such as those in the UK and Europe, are much more vigorous than U.S. subsidies.