The Economist writes: "Diesel fuel made from oilseeds, petrol replaced by ethanol made from corn, sugar or grain—or even straw. They're here and are starting to change energy markets."

American output of maize-based ethanol is rising by 30% a year. Brazil, long the world leader, is pushing ahead as fast as the sugar crop from which its ethanol is made will allow. China, though late to start, has already built the world's biggest ethanol plant, and plans another as big. Germany, the big producer of biodiesel, is raising output 40-50% a year. France aims to triple output of the two fuels together by 2007. Even in backward Britain a smallish biodiesel plant has just come on stream, and another as big as Europe's biggest is being built. And after long research a Canadian firm has plans for a full-scale ethanol plant that will replace today's grain or sugar feedstock with straw. Output is still tiny compared with that of mineral fuels. But the day of the biofuel has arrived.

The reason is simple. Forget greenery or energy security, the grounds on which governments justify subsidising biofuels. Just take the past year's soaring price of mineral fuels, subtract the biofuel subsidy, and the answer is plain: for the user, biofuels are currently cheaper. Indeed, in America's corn (maize) states, locally produced ethanol is close to being competitive even without subsidy; imported Brazilian ethanol could have been so long ago, had not a federal tax credit for ethanol, originally 54 cents per American gallon, been carefully balanced by a 54 cent tariff.

WSJ writes:

You have a brainstorm, wake up the next morning, and need to figure out whether the idea is actually worth pursuing -- or better left under the covers.

This is the murky time before investors, retail space or product packaging come into the picture -- a time to figure out where that big idea might actually fit, or not fit, in the marketplace. After all, there's no shortage of would-be visionaries out there: last year alone, there were 674,499 applicants for a new trademark or patent registration.

While groups abound to help entrepreneurs find financing, pen a business plan or secure a patent, on Day Two it's mostly up to the individual to do some reconnaissance, and soul-searching.

"It's amazing to me how little common-sense research people do," says Mike Collins, chief executive of Big Idea Group Inc., which helps match inventors with companies that can market the idea.

What's necessary is everything from gauging the interest of real end-users (not just friends and family) and figuring out an initial price to checking out available Web domains and crystallizing personal goals.