British engineers create petrol from air and water


snip~
they have produced 5 liters of synthetic petrol over a period of three months.


more @
http://xfinity.comcast.net/articles/news-science/20121019/SCIENCE-US-SCIENCE-PETROL/

It's a start, but I doubt that technology will ever produce gas cheaply enough.

The future is hydrogen powered cars. You fill them up like you fill a regular gasoline powered car, get comparable mileage, and costs less than the current price of gas to fill your car. But as long as oil is still relatively "cheap," oil companies will make sure we all have to use gas. But in 20-30 years, it will be hydrogen powered vehicles all around.

Fascinating stuff, but it under no circumstances will it ever be feasible, unless we completely go nuclear.
The process requires huge amounts of energy.

Based on today's price of electricity, around one thousand dollars an ounce for this stuff, that is, unless they use nuclear, an infinite and relatively cheap source of energy.
Then a process like this could be feasible, considering the nuke plant be dedicated for processing fuel.