I agree with The Jed. It takes a certain amount of gas to move a certain amount of weight (and aerodynamic frontal area) down the road. A set-up that will move it really fast (like 9 second 1/4s), is gonna be burning even more gas just for having the capability.
Then you look at the cars that can get 50 mpg, and they're all smaller than Camaros. Then you look at the engines in cars that can get 50 mpg, and they're all smaller than the V8 in your Camaro. Doing a diesel, like The Jed was talking about, gets you a little closer to 50 mpg, but probably farther from the 9 second 1/4.
If you can succeed, you'll be an efficiency god, but I'm afraid for now I'll have to assume you're probably not an efficiency god.
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