Franz Fischler, a former European Commissioner in charge of agriculture talks about biofuels, profitability and energy balances over on Domestic fuel. Worth checking out. One of his later sentences is telling... he says:
To meet the EU's target of 10% renewable fuel target by 2020 but we are also aware that this is only achievable if we are able to come forward with second generation fuels because if we were to do it on the basis of bioethanol and biodiesel we about half the arable land of Europe. And that's not going to happen.