The invention provides methods of manufacturing biodiesel and other oil-based compounds using glycerol and combinations of glycerol and other feedstocks as an energy source in fermentation of oil-bearing microorganisms. Methods disclosed herein include processes for manufacturing high nutrition edible oils from non-food feedstock materials such as waste products from industrial waste transesterification processes. Also included are methods of increasing oil yields by temporally separating glycerol and other feedstocks during cultivation processes. Also provided herein are oil-bearing microbes containing exogenous oil production genes and methods of cultivating such microbes on glycerol and other feedstocks.