Algae have been explored for biofuels, and even though electrification almost certainly wins in most of those use cases, the oil you get is still going to be pretty stable. As far as I understand it, oil can't decay any further anaerobically (otherwise it would be consumed in the ground). So if you have some way to go from biomass to hydrocarbons, and then store the hydrocarbons in salt domes or similar, it should stay buried for a usefully long time.
... until someone finds and taps those stores, certainly. A dense energy source, in concentrated, easily extracted form, is how we got ourselves collectively into this problem in the first place. "Making oil and putting it in the ground" doesn't sound likely to keep it there. I'm inclined to make use of that synthetic oil for energy, at least during the transition.
The issue with algae fuels in the past has been cost competitiveness with fossil fuels. Processing the algae to make usable diesel is labor intensive. If you're just going to bury the algae, though, that might be doable for the cost of a carbon credit. But you still have to feed the algae.