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http://en.wikipedia.org/wiki/Methanol_economy
Methanol can be efficiently produced from a wide variety of sources including still abundant fossil fuels (natural gas, coal, oil shale, tar sands, etc.), but also agricultural products and municipal waste, wood and varied biomass. More importantly, it can also be made from chemical recycling of carbon dioxide. Initially the major source will be the CO2 rich flue gases of fossil fuel burning power plants or exhaust of cement and other factories. In the longer range however, considering diminishing fossil fuel resources and the effect of their utilization on earth's atmosphere, even the low concentration of atmospheric CO2 itself could be captured and recycled via methanol, thus supplementing nature’s own photosynthetic cycle. Efficient new absorbents to capture atmospheric CO2 are being developed, mimicking plant life’s ability. Chemical recycling of CO2 to new fuels and materials could thus become feasible, making them renewable on the human timescale.

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