Yaa.i think so because fossil fuel are depleted because of more usage and also the reason that it is formed after millions of years.on the other hand bio fuels are produced from vegetable and food wastage and formed within some days.therefore biofuels are good alternatives of fossil fuels.
Biofuels are sources of energy which come from living, renewable sources, such as crops, trees and even animal manure. Fossil fuels like oil, gas and coal, on the other hand, come from the earth from decaying vegetation many millions of years ago, and cannot be renewed. In recent years biofuels have come to mean fuels such as ethanol and biodiesel which can be burned in engines to drive vehicles in place of fossil fuels like petroleum and diesel.