The latest innovation is some sort of moving bed process using algae and bacteria. Can't remember where the article was but it was supposed to be near to a commercial design.
Making a liquid fuel is nothing new. In the mid 1940's the Nazi lunatics running half of Europe managed to keep things moving using stewed coal and sugar alchohol. The problem is, it's still very expensive compared to something you dig out of the ground. It also wrecks engines, pollutes and halves fuel consumption at the 1945 technology level.
The cost isn't going to change, if anything it'll go up as it no longer has to compete with natural oil in large quantities. If fuel is £5 a litre, not many of us will be riding to the coast for a cuppa because we fancy it.
Enviromental issues are a different subject. I'm not against saving the planet and I do believe in man made climate change, but I really do wish they'd be honest. Man made climate change is not global warming, the general population don't understand that heat in one place causes blizzards in another. If the summer is wet they'll decide your scientist is wrong, so don't dumb it down. Resource allocation and population pressure is another subject and the reaction of industry (scrap your perfectly good vehicle and buy a new "green" one full of batteries

) is a problem not a solution. There are some hard choices coming and shouting confusion about whales and carrier bags and what your God wants you to do isn't helpful.
The bottom line; The planet is so big. It can only support a given value of life. If we all ride bicycles and eat bean stew there can be 20-billion of us. If we want V-8 cars and steak there can only be 2-Billion. If we are careful and don't waste, there is a level in the middle where maybe 10-billion of us can have clean water, enough to eat and some sort of personal transport.
IMHO, be lean and mean not green.
I'll go find another use for my soap box now
Andy