Metric to look at is EROI - Energy Return on Investment. How much energy do you put into growing these crops to get a unit of energy out?
Corn ethanol in the US is stupid because it's a 1.6:1 return at best, often a 1:1. To get a unit of energy out of corn ethanol, you need to put almost a unit in. And that's economic inputs, we know the sunshine is free. Sugarcane is a bit better, but you can only grow it in the tropics.
For reference, solar tends to be something like 4:1 - 10:1, wind is 10:1 +/- onshore or offshore, fracked oil tends to be down around 5:1-8:1, and a saudi well is (or at least used to be) 40:1.
First there are significant quantities of oils grown used in cooking and discarded, in an often environmentally damaging way.
Reclaiming and burning these adds value to a waste product.
What is the EROI on batteries surely under 1.
These oils can provide energy storage and transmission in applications where electricity is ill suited, jet engines (coconut oil is especially suitable for this) and shipping come to mind.
As a resource reaches depletion, there are two forces acting on EROI: 1) the increased cost of each unit of energy input, and 2) the reduced yield from that energy input.
The EROI curve bends negative faster than you think by looking at history.
Biofuel from Used Cooking Oil is worthy considering for sure, but the quantities possible are tiny compared to the petrol/diesel we use.