I think that it is unfortunate that the biodiesel bandwagon looks like it is going to go with reformulating natural oils to be more like petroleum-based diesel fuel. Maybe they have to to gain support from some chemical company, but I personally would prefer to be able to simply squeeze the fuel out, put it in the tank, and use it. That way, yes, diesel fuel grows on trees and we need very little in technology just to run our cars.
Hemp grows quite well in places where farmers don't like to plant and is more likely to grow on soils that aren't suitable for other crops. It can also be grown in forests if those forests aren't too dense. I see the oil as a basic fuel, a primary energy source that can readily be used to run all sorts of high technology, so if need be, if you have a portable generator and a stock of power tools, you can build a hi-tech village from scratch and keep the computer and entertainment center. Any readily available fuel is the difference between civilization and subsistence.