Sorry, I was misusing "farmland". Algae can be grown in the ocean which is practically unlimited. With 70% of Earth's sun absorbing surface being saltwater, bioengineered algae is the most obvious biofuel long term. We shouldn't use our freshwater and real farmland for fuel growing since I agree with you 100%, they are very limited. Algae can also use used to create alcohol and under certain conditions can by made to emit hydrogen gas instead of pure oxygen. Algae is extremely efficient at converting solar energy and CO2 into carbohydrates and oils. It is genetically simple enough it is possibly within our current capabilities to genetically engineer special fuel algae. Unlike most other fuels this would create a closed loop system so we could use unlimited amounts without a net change in the atmosphere. If this was world war time we would be spending many billions of dollars researching it. We really should invest in it now without needing to be forced by war.
"If this was world war time we would be spending many billions of dollars researching it. We really should invest in it now without needing to be forced by war."
If it is actually economically viable, it should not require government funded R&D.