Not so. In 2207 and 2008 when oil prices rose ... feedstock prices kept pace making biofuels unprofitable.
When oil prices fell ... feedstock prices did not fall at the same rate ... continuing to make biofuels unprofitable.
Even oil prices are forecast to not go up up up ... as demand is shrinking. A number of plans for refineries have been put on hold because of shrinkage in demand.
Technology is only 10-15% of the overall cost of biofuel production.
Plus ... feedstocks do not grow overnight. Jatropha takes approx. 3 years for a plant to grow to enable harvesting. Algae is years away from commercial viability. Castor has Ricin in it which must be removed. etc etc
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