Several potential scenarios for biofuels can be foreseen in the future. The big hopes for the transport sector are second — and future third-generation biofuels, including biodiesel from microbial oil, the production of biobutanol (from nonedible feedstocks) as a more petrol-like fuel, and the preparation of biofuels from cellulosic and biomass nonedible feedstocks.

One of the critical factors that will influence the future prospects of biofuels is diversifica­tion. The future of biofuels as a sustainable (economic, social, and environmental definitions) technology is directly linked to the maximum use of byproducts that will make its production more cost effective.

Biology and synthetic biology would have the opportunity to design plants with special properties through genetic engineering to produce biomass feedstocks with requisite ratio and functionalities of lignin/cellulose (Luque et al., 2008). Such discoveries can significantly change the future of biofuels, as a major contribution to the GHG reduction through the regulation of the CO2 fixed by plants in crops.

Acknowledgments

The authors thank The Director, Indian Institute of Petroleum, Dehradun, for his constant encouragement and support. RS thanks Council of Scientific and Industrial Research (CSIR), New Delhi, India, for providing Junior Research Fellowship (JRF).