'We have modest goals of replacing the whole petrochemical industry and becoming a major source of energy'

This would be what we call a paradigm shift, ladies and gentlemen. 100% awesome.

Reason Magazine - Hit & Run > Synthetic Bacteria to Excrete Crude in 18 Months?:

"In his presentation at the annual TED meeting, redoubtable gene-meister Craig Venter predicted that his team would soon produce synthetic bacteria which would consume carbon dioxide to produce a 'fourth generation fuel' and help solve man-made global warming as well. As AFP reports:

'We have modest goals of replacing the whole petrochemical industry and becoming a major source of energy,' Venter told an audience that included global warming fighter Al Gore and Google co-founder Larry Page.

'We think we will have fourth-generation fuels in about 18 months, with CO2 as the fuel stock.' ..."