Plus the by-product. Algae will in a very short time become a profitable product of your average high pollution industrial venture. This will happen when the algae produced by several sites become so plentiful that it becomes commercially viable for specialist companies to buy it up or just cart off for processing to one or several of the potential algae based end products.

I’d say that theoretically it will allow us to get a double-use out of our oil/coal.
First for fossil fueled electricity generation.
Secondly through solar conversion via a bio-reactor to bio-fuel.

Who knows.. We might even be able to close the loop eventually where we pump the ‘algae-crude’ back into the ground for later extraction and use. Once that happens we will have truly become a much more sustainable society.

Or at the very least it could buy us a lot of time to look into alternatives such as Fusion technology.