The time has come when it is desirable to look for alternative energy resources to confront the global energy crisis. Consideration of the increasing environmental problems and the possible crisis of fossil fuel availability at record high prices dictate that some changes will need to occur sooner rather than later. The recent oil spill in the Gulf of Mexico is just another example of the environmental threats that fossil fuels pose. This paper is an attempt to explore various bio-resources such as corn, barley, oat, rice, wheat, sorghum, sugar, safflower, and coniferous and non-coniferous species for the production of biofuels (ethanol and biodiesel). In order to assess the potential production of biofuel, in this paper, countries are organized into three groups based on: (a) geographic areas; (b) economic development; and(c) lending types, as classified by the World Bank. First, the total fossil fuel energy consumption and supply and possible carbon emission from burning fossil fuel is projected for these three groups of countries. Second, the possibility of production of biofuel from grains and vegetative product is projected. Third, a comparison of fossil fuel and biofuel is done to examine energy sustainability issues.