Petrol from air and water???

The BBC Business page carried a story this week about a company in NE England that is developing a technique to produce petrol from air and water. This sounds like something too good to be true, but if scaled up to production levels could be something remarkable.

"A British firm based on Teesside says it's designed revolutionary new technology that can produce petrol using air and water. Air Fuel Synthesis in Stockton-on-Tees has produced five litres of petrol since August, but hopes to be in production by 2015 making synthetic fuel targeted at the motor sports sector. The company believes the technique could help solve energy supply problems and curb global warming."

See http://www.bbc.co.uk/news/business-20003704 .