Earlier quoted context omitted.
You are precisely wrong. Targeting people that already buy into energy efficiency has low payoff. Say you have your enlightened urban dweller, getting 50mpg. With the fancy new hybrids, let's say they double that and get 100mpg. Given 100K miles of driving, that saves 1000 gallons of fuel. Now, take your suburbanite SUV driver getting 20mpg. You only have to get their mileage to 25mpg to save the same amount of fuel…
Biofuels are definitely not in their infancy. My first car ran on ethanol and it was in the mid 80's. The technology in very mature.
You're right, though, I should've said something like 'practical biofuels' are in their infancy. I was really more referring to algae oil based petroleum or butanol, as they seem like the most promising candidates for a net-energy positive and high energy density renewable fuel.
(also, it's very cool that you ran on that in the 80s, mind if I ask what kind of car it was, or if you'd had it customized?)