The U.S. DOE Energy Independence and Security Act (EISA) mandated attainment of a national production level of 36 billion gallons of biofuels (to be added to gasoline) by 2022, of which 21 billion gallons must be derived from renewable/sustainable feedstocks (e.g. lignocellulose). In order to attain these goals, the development of cost effective process technologies that can convert plant biomass to fermentable sugars must occur. An alternative route to production of bioethanol is the utilization of microorganisms that can both convert biomass to fermentable sugars and ferment the resultant sugars to ethanol in a process known as consolidated bioprocessing (CBP). Although various economic benefits and technology hurdles must be weighed in the course of choosing the CBP strategy to be pursued, we present arguments for developing the powerfully cellulolytic fungus, Trichoderma reesei, as an effective CBP microorganism.