GMO producing fuel for cars - oil crisis solution?

Firstly I don't believe we will see increased use of hydrogen fuel cels in the future cars. It takes too much energy to produce hydrogen.
But what do you think about it? Already today it is possible to make biofuel from the corn for example. This biofuel could be used in normal fuel burning engines without any problems. The disadvantage of this solution is that it is currently not possible to make enough biofuel from the normal plants. But what about the genetically modified plants? The genetic science made signifficant achievments during the last decades. So could it be possible that scientists will produce genetically modified (bigger) corn (or other plant), that will be couldn't be used for eating, but it will be specialized just for biofuel production ? Future farmers could simply harvest fuel for our future cars.