Oil Producing Bacteria and Space Elevators

• Physicists at the University of New Hampshire have found bacteria capable of producing "biodiesel". This reminds me of a small town (on the way to South Australia somewhere...) where they thought they'd discovered oil only to discover it was merely a bacteria that produced an oil like sludge. It's still cheaper to not use oil though...
• JP Aerospace have developed what could be a practical "Space elevator" consisting of a large blimp at a low earth-orbit and other blimps that will carry payloads up to it.