'Milking' Microscopic Algae Could Yield Massive Amounts Of Oil
Milking diatoms – a new route to sustainable energy
Genetic Engineering of Algae for Enhanced Biofuel Production
There's plenty of research being done outside of Synthetic Genomics.
Other links
http://www.technologyreview.com/energy/22572/
http://www.economist.com/node/14029874?story_id=14029874
http://wgbis.ces.iisc.ernet.in/energy/water/paper/RG_260409_Ramachandra&2008v35/news.htm
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