Phil -
The MPG benefit would come from the number of miles traveled on the actual fuel, not the emulsion itself.
From what I've seen/read in various articles and sources, if I understand it correctly, the economy goes down with the emulsion as a whole, but when you consider the emulsion two parts, with the water being "neutral", the actual fuel economy increases.
In other words, if you got 50 MPG on straight gasoline, and 30 MPG on a 50% emulsion, only 50% of your emulsion is fuel, therefore you can extrapolate that you're actually getting 60MPG for the gasoline fuel you've used, and nil for the water.
Those numbers are fallacy, completely arbitrary, to express a point.
Of course, you also have to account for the extra energy used to emulsify the fuel with the water, as opposed to just using the fuel in it's current state.
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