From Wired.com -
"A biofuel startup in Illinois can make ethanol from just about anything organic for less than $1 per gallon, and it wouldn't interfere with food supplies, company officials said. Coskata, which is backed by General Motors and other investors, uses bacteria to convert almost any organic material, from corn husks (but not the corn itself) to municipal trash, into ethanol."
It reminds me of a little movie called "Back to the Future"