To my knowledge, there is no such thing as a "water-powered car". Do you mean a hydrogen-powered car? The problem with most sources of hydrogen is that you have to consume the same energy in a fossil fuel in order produce hydrogen fuel. Hydrogen is difficult to store because it is so light and it easily escapes most container vessels.
Coskata Corporation ( www.coskata.com ) has stated that they can produce ethanol from non-food biomass for LESS THAN $1.00 PER GALLON in their joint announcement with General Motors Corporation. When their output volume increases to the level of imported OPEC oil, we will have achieved energy independence and the US economy will be restored to its former vibrancy. When ethanol from biomass becomes the dominant supplier in the American fuels marketplace, the threat of declining lifestyle in America will be eliminated and we can once again look forward to rising aspirations for future generations of Americans. When America becomes an ethanol exporter to the world, our trade deficit will be eliminated.
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