The author misquoted the Wiki article:
"Algae can produce up to 300 times more oil per acre than conventional crops, such as rapeseed, palms, soybeans, or jatropha."
The author changed the tenses of the statement. Algae does not produce that well because monocultures of the required strains are easily contaminated. Under optimal conditions, algae might produce that much oil, but NASA tried to do it for 20 years, and failed.
I'm no rocket scientist, but I will assume that some of the folks at NASA are.