With the modern 'green' movement calling for better sources of renewable energy, bamboo is a very strong candidate in many ways. When you consider that it takes some oak trees 120 YEARS to reach full maturity, you can see why this sort of rapid growth could prove invaluable in the near future.
Bamboo is not the perfect solution, however. A major flaw is that it is far less durable and sturdy than tree wood. Also, most of the bamboo is currently produced in China or rainforests are cut down in order to free up land in which to plant it.