All the oxygen on earth started with algae enough so that larger plants and animal could live. Algae consumes vast amounts of co2 and gives of oxygen. It is a good way to help fix the damage we have already done.
This is true only if you don't use it for fuel or food or almost anything else that would be useful.
You would have to grow the algae and then try to store it in some fashion where it would not decompose if you wanted to sequester the CO2 indefinitely. You could pump the oil byproduct into all those oil wells that are now empty. But, none of that seems realistic to me.
Nuclear, wind and solar for energy. Algae for food and nutrition supplements seems the best way to me.
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