A couple weeks ago, I attended a workshop on making biodiesel. I particularly like that it's economically feasible to produce even for small, one-person setups. One question that they asked at the beginning was what we thought the impact of peak oil will be. I stated my very strong opinions, however, I ultimately agree that biodiesel is simply a 'technofix'. Currently, humans have no way of even coming close to extracting as much energy from live plants that we extract every year from fossil fuels. Hence, biodiesel doesn't solve the big problems of peak oil that are headed our way.
So why am I starting down this path?
I'm doing it for a couple of reasons... but mostly because it gives me energy independence. It is one less corporatist hook that I'll have stuck in me. If any of the gloomy predictions from peak oil come true, it will make the transition to a lower energy lifestyle much easier for me. And, if the particularly gloomy predictions come true, it means I'm in a better position to gain social power and to physically protect myself.
Making biodiesel does not solve The Problem, but it does solve some problems for me.