Short answer: No
Explanation: Food based fuel is a crime against humanity. It shows the shady world that today's lobbyist driven political scene can get us into. Let's hope whoever gets into the White House in Jan, will at least try to limit some of this.
In ChE terms: ChE is sometimes defined as the science of adding value to material. When you convert food into fuel, you are
not adding value, you are
destroying it.
There is a better way: When you convert waste into fuel, you're back to
adding value.
57% of landfill waste is renewable (biofuel).
84% is organic (the difference is mainly plastic). And that's after recycling, which seems to be hitting a ceiling. In the US that's
95 million tons a year of renewables,
138 million tons of organics. 2005 Numbers,
courtesy of the USEPA.
Not that it is enough to get us off foreign oil, but it is enough for a decent start. Once we approach full use of our wastes we can start looking at energy crops, having developed a better understanding of what is required.
The problem with biodiesel is that it needs a fairly clean feedstock, lots of methanol (or etahanol) and some catalyst. Great for a DIY project in the garage. Not so great on an industrial scale. Alternative processes (such as TDP, gasification/Fischer-Tropsch) produce a superior product (chemically equivalent to petro-diesel) from dirtier feedstock. G/F-T can also use non lipid feedtocks (most of the available biomass is in the form of cellulose), which biodiesel cannot. The alternatives also don't produce unwanted byproducts (market for glycerine is in the tank, thanks to biodiesel).
Hydrogen: Going nowhere fast. Why convert your clean energy to a form that is difficult to store without leaking, expensive to transport and dangerous to handle on top of that? You're better off using the clean energy in its original form (whatever that is).