Abstract: The world is faced with energy challenges with depleting fossil fuel reserves. Although with successful exploitation of shale gas and shale oil, the long-term economic benefits on shale fuels use considering the environmental damage are unknown. Biomass is abundant worldwide and its derived energy is regarded renewable and cost-effective. Additionally, the use of bioenergy from biomass is claimed to be carbon neutral since the biomass has supreme capability to biofixation of CO2. However, the cost of biodiesel production from biomass is high.