Potentially good news
If this isn't a hoax -- and I can think of four or five times in history where almost exactly this setup was used as a hoax, and the people got away with the equivalent of millions of dollars -- it's potentially the best news I've read, like, ever.
no subject
On the other hand, it might, with a bit of luck and sufficient funding, actually work and produce gasoline-equivalent at below market rate. I can't imagine that it will produce anywhere near enough to create an actual revolution, but it might produce enough to be worthwhile.