What’s the reasoning behind your statement? I think both are already being done, the economics are just not there yet. Digging up free energy from the ground is just too cheap.
The scale of co2 that would need to be sequestered is massive, I don't think anyone has a vaguely viable plan of how that would be done.
Most attempts at biofuel are not even net positive on energy. if we did get there then the question is how much forest do we have to clear to grow biofuel AND eat, and what net effect does that have on co2.