It's like a headline outta Weekly World News, 'cept it's real. Scientists have fiddled with the nuts and bolts on some wee critters and a) gave them a taste for devouring our garbage, and b) now they excrete petroleum. OMG, I know.
There's one, possibly huge downside- these bugs are GMO. They are altered at the genetic level, starting out their lives as non-pathogenic e. coli or yeast.
OK, here's another downside- does this mean that we'll just keep on using 19th century internal combustion engine technology with abandon? Think of our global industrialized food system. Its lifeblood is oil. Suddenly having a steady supply of the stuff means that we don't have the impetus to fix a broken system. This just props it up. And the only thing that makes people, organizations, businesses and governments change their ways is when there is suddenly no other choice.