Another alternative, but it would take a LOT of lobbying.
Everyone remembers from the economics thread how I feel about government subsidations? (the best subsidations are no subsidations and all sellers need to a adapt to the marketplace to survive rather than beg the governmnet for help - which is something it was never set up to do)
Biodiesel engines are cleaner burning and get better mpg than current petrol vehicles. Also, diesel engines have the potential to run almost forever without nickel and diming you.
Every year, hundreds of thousands (probably hundreds of millions) of pounds of crops are burned each year because the marketplace isn't fit for the flood of staple crops that farmers produce.
Well, where I'm going with this is this: There is a biodiesel fuel that can be made from excess crops. I'm not familiar with the process but essentially the crops are turned in to a crude biodiesel fuel. It's cost effective, but not a lot of cars run on it. Flex Fuel vehicles have the capability to, iirc. There would be no more agriculture subsidations, the market place would be fereocious once again, and we'd essentially have all the fuel we would need, provided farmers kept up current production and didn't overtax the land.
better for the enviroment? better for our government? better for the economy? better for farmers AND you? win/win/win/win/win situation if you ask me. Again, all we need are the refining capabilities.