WorldChanging has a very interesting post on how plain coconut oil is used to replace diesel in parts of the South Pacific. There, it is plentiful and can be had for $0.55/liter ($2/gallon), which is a lot cheaper than the price of diesel in that region, especially after the recent oil spike. In the past year, 200 mini-buses have been running on a diesel/coconut oil mix as a proof of concept, and many other vehicles have been running on 100% coconut oil. Some of the advantages over regular diesel: "it doesn't make black smoke, [...] has the potential to stimulate employment among local coconut growers ("For every ton of diesel fuel that we can offset, we can put back some $200 into the local economy."), and, perhaps most importantly for the world at large, it is an environmentally friendly fuel." Read more about this promising biofuel here.