Algae fuel -- the environment and our chaotic economy

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http://www.treehugger.com/files/2008/06/algae-biofuels-coal-plants.php It all comes down to math. Get rid of all the oil refineries and where they drill...factor in a few more coal plants made...and then remember that algae EATS all the pollution those plants make and you find that's it's not really terrible. In fact there's few ecological drawbacks to it. Regardless of what you do, you're gonna have land eaten up for energy. This gives us the freedom to continue on into the future, it's an immediate solution, which would readily help the economy and people all around. There's no saying that we won't refine how we make algae fuel in the future, or continue researching other fuels either. I know ^_^' Algae fuel doesn't get alot of media coverage...so I won't be surprised if most people don't know about it. Just thought I'd throw this out there. It still holds great promise to me...but what do you guys all think about this kind of fuel? Can you think of anything which says that algae isn't a good replacement for oil? Would you like this to be a replacement for oil?