It’s a big news week for biofuels. Following the announcement of up to $25 million in federal funds for the research and development of biofuels came the news that the U.S. Air Force plans to use biofuels in it’s fleet by 2013. It now seems clear that – regardless of the price tag on a barrel of oil – federal agencies are banking on biofuels to help soften the energy crunch.

So perhaps it’s no surprise that luxury automaker Bentley is hopping on the bandwagon. Making good on their promise to have a biofuel car on the road by 2012, Bentley will debut this new vehicle at the Geneva Auto Show on March 3, 2009. At this point, the model lacks an exact price or a name, but it’s reported to be more powerful – and pricey – than the Continental GT Speed, which is priced at $203,000.

While the price clearly puts the car out of reach for most, it’s worth noting that such upscale items do serve a certain purpose in the green economy. Like runway designs, just because we can’t afford them doesn’t mean they don’t influence our sensibility.

As funds are granted to universities and businesses for biofuel research, the public and private sectors are already in full swing. High school chemistry teachers are meeting to learn how to teach biodiesel production to their students. In many states, organizations are coming together to buy and sell waste oil. Terms like “flex-fuel” and “algal fuel” are becoming common lingo among the ecologically minded.

Most of all, these ideas are moving from think tank strategies to realistic, government-funded, short-term goals. Though a combination of large projects and tactile products, people are starting to visualize the alternatives to a lifestyle dependent on fossil fuels. This is crucial for the public to feel positive and involved about the energy situation.

As for the economic climate, it’s not clear whether buying a luxury automobile is advisable, but it sure makes going green look good.