Does Biofuel cause more harm than good?

I’ve heard a lot about the good things that biofuels can do for the environment (renewable, reduces dependency on foreign oil, etc.), but what about the negative effects of using biofuels (not growing enough crops to meet demand, deforestation, etc.)? Some claim that no amount of biofuels can ever offset the environmental damage caused by the cutting down of forests to grow more crops. What do you think?