The growth of the bioeconomy has recently been slowed by over production of petroleum and natural gas from unconventional domestic reserves, which has reduced demand for biofuels. In the longer term, liquid transportation fuels, both petroleum- and bio-based, are threatened by electrification of the transportation sector, which will benefit from the use of low-cost natural gas to generate electricity for battery electric vehicles. Low-cost natural gas in the USA is attractive for other applications as well, including the production of certain petrochemicals. On the other hand, natural gas is not suitable for producing many high molecular weight petrochemicals. Cost-competitive biorenewable versions of these products will need to be commercialized if petroleum is to be displaced without causing substantial economic distortions. This article reviews the available bio-based pathways and the current state of research on their technical and, where available, economic feasibility.