Vegetable oils, fish oil and oils from algae are excellent raw materials for new polymers. These oils differ in the structure and unsaturation, but each offer specific advantages. Vegetable oils are inexpensive and offer different degrees of unsaturation. Fish oils may have a very high degree of unsaturation. Algal oils are new raw materials with still unexplored possibilities. Most oils are triglycerides but cashew nut oil is an aromatic compound with a long hydrocarbon chain. Direct polymerization of oils has been used in coatings for a long time. Oils can be thermally polymerized by heating at a high temperature. The products are oligomers of high viscosity. We have developed a method for cationic polymerization of oils at mild conditions, useful as lubricants and modifiers for rubber, asphalt etc. However, for high strength materials, it is necessary to introduce functional groups such are hydroxyls, carboxyls, amine etc. Hydroxyls are the most useful ones, since they open the whole area of polyurethanes (foams, coatings, adhesives, elastomers and sealants). One can utilize the triglyceride structure or to use fatty acid derivatives, opening a wide field of combinations to suit different material requirements. This presentation will give a cross-section of different possibilities for creation of new materials from the biological oils.