Right now, oil is being isolated around the globe, and there is a major effort in shipping, trucking and otherwise transporting that oil around to a very finite number of refineries. Biology allows us to make these same fuels in a much more distributed fashion.
The problem with existing biology is you change only one or two genes at a time.
When I started my Ph.D. at the University of California, San Diego, I was told that it would be difficult to make a new discovery in biology because it was all known. It all seems so absurd now.
Synthetic biology can help address key challenges facing the planet and its population. Research in synthetic biology may lead to new things such as programmed cells that self-assemble at the sites of disease to repair damage.