Sounds crazy, right?
I found that news story linked on a message board today. To summarize for the lazy-genetically altered yeast producing bacteria and E. Coli Bacteria can ferment sugars to produce carbonless petroleum. The company has just started and obviously mass production isn't possible at this stage, but they could conceivably produce oil at $50 a barrel (current pricing is over $138).
The wonderful thing about capitalism is that if you have a need, someone ultimately fills that need. While a totally unchecked free market creates some inequity and problems (ie. Enron), it does come thru in the clutch.
I look forward to putting bug poop into my car and I hope I see the day.