This name doesn't hide nothing particularly strange but the production of alcohol from organic sources. Today for this matter there are several options, those that have a high glucose content. The process takes place most of the time with microorganisms thanks to their nice ability to convert glucose.
Of course bio-alcohol is a liquid fuel that could be used —and it is— for multiple applications, although the combustion doesn't come without byproducts: carbon dioxide and water vapor. Nonetheless there are important exceptions here making a comparison with oil.
The energy density is considerably high, even surpasses coal. Its price varies from low to high when it comes to consumer applications. However, it's easy to produce.