That's really cool. It sounds very energy intensive, splitting water always is, but if it's solar- or wind-based, it seems like the basis for 100% renewable fuel. And I love diesels.
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Seems like this would take an incredible amount of electricity to produce even a small amount of fuel. If that electricity were to come from renewable sources, as was mentioned above, it would be a step in the right direction at the very least. If even 1% of all the diesel we burned came from C02 that would be great for the economy and for the environment as well.
The more sources of fuel we have available to us the better.
I'd agree with UFO and kir kenix. It sounds very energy intensive. I find it a bit hard to believe it can be that cost competitive considering that fact, but European fuel prices are a lot higher than US fuel prices...