Jatropha, an abundant plant native to the Americas but most populous in tropical areas like Africa and India, is now the hot topic as a hopeful candidate for the next source of biodiesel. In Mali, one of the world's poorest countries, people are already using oil from the plant's seeds in generators to power their villages.

The wonder plant that Mali is experimenting with yields more than corn, can grow with very little water and can be planted alongside other plants. It also prevents soil erosion and acts as a natural animal repellent. More than 13,000 miles of the bush exist in Mali, whose farmers estimate that it takes about 8.8 pounds of jatropha seeds to make a liter of oil, and is expected to cost about the same as regular diesel.

When thinking about why we produce alternative fuels, saving the environment is great, but on a much smaller scale, allowing people to get by day-to-day is perhaps an even better reason. But that doesn't mean that everyone's satisfied with the current usage of jatropha-based oil. Some growers worry about a lack of buyers for commercial applications.

However, oil giants BP and D1Oils are investing millions into jatropha cultivation around the world with the goal of commercial usage in mind.

The Philippine military is growing it already, and investment banking firm Goldman Sachs just cited it as one of the best candidates for future biodiesel production. Israeli cleantech start-up Galten is working on a $10 million financing deal to continue research already underway in Ghana on using jatropha for biodiesel. And in the United States, the University of Florida is eyeing the plant for similar purposes as well.