Combustion flue gases are a major contributor to carbon dioxide emissions into the Earth's atmosphere, a factor that has been linked to the possible global climate change. It is, therefore, critical to begin thinking seriously about ways to reduce this influx into the atmosphere. Using carbon dioxide from fossil fuel combustion as a feedstock for the growth, photosynthetic microorganisms canprovide a large sink for carbon assimilation as well as a feedstock for the production of significant levels of biofuels. Combining microalgal farming with fossil fuel energy production has great potential to diminish carbon dioxide releases into the atmosphere, as well as contribute to the production of biofuels (e.g., biodiesel, renewable diesel and gasoline and jet fuel) as well as valuableco-products such as animal feeds and green chemicals. CO2 capture may be a regulatory requirement in future new coal or natural gas power plants and will almost certainly become an opportunity for commerce, the results of such studies may provide industries in the US and Canada with both regulatory relief and business opportunities as well as the ability to meet environmental and regulatoryrequirements, and to produce large volumes of fuels and co-products.