I don't want to be the barer of bad news here, but there are several issues with bacterial biofuels: starting with water use, and resources needed to build, then maintain then rebuild the vats far into the future (concrete? steel? - these are all non-renewable materials needed in large quantities, only to be discarded every 50 or so years as the pools develop cracks). The other issue is - very much hindering the proliferation of this approach - is the energy needed to move water, then extract the oil from these bacteria. (Don't even ask what these thingies eat and how much potentially hazardous waste they produce.) The problem is civilization itself: our belief that we can continue extracting materials, use immense amounts of energy and pollute our environment without running out of anything, or choking the biosphere. Oil (or the lack of it) is not the single problem affecting modern societies, but part of our much larger predicament.