The shift from fossil fuels to bio-based ones is considered to be a strategy to cope with the pressures of the coming peak oil era in oil dependent countries. However, although biomass can be a valuable element of a new energy mix, (i) without a drastic decrease in energy consumption its contribution will remain marginal, and (ii) Without structural changes in the energy system (away from its current carbon basis) it poses risks to environmental security, mainly to biodiversity, and food security. This might even lead to significant changes in the relations between developed and developing countries. The prospect that second generation plantations deliver high yields from poor soils without external inputs is unrealistic. A more benign option for of biomass use is for carbon storage, at best realized in soils.