"Current generation of conservatives?"
Not to step on the story or anything, but you might want to check on what political, economic, and environmental views were like back when plastics came into use as a cheaper, easier substitute for ivory.
People are working on dozens of energy alternatives right now, largely in the private sector (sometimes with help from government and university labs) and damn little in the way of forced mandates. They will succeed when it becomes economically feasible, which looks likely at this point.
And twenty years from now, liberals will be grinding their teeth about those bastards who made billions off biodiesel.