"A University of Canterbury (UC) lecturer is researching the possibility of producing fuel from air and electricity. The technology removes carbon dioxide from the atmosphere and produces methanol, a liquid fuel similar to petrol. UC researcher Dr Aaron Marshall said efficient conversion of carbon dioxide into methanol would revolutionise energy technologies. He has received a Marsden Fund study grant to look into cutting-edge technology. ``We still need energy to carry out the process. Basically we make fuel (methanol) from carbon dioxide in the air and electricity. But in principle we would not need oil/petrol if this could be done efficiently on a large scale using renewable energy like wind or solar power. Methanol can be used in normal car engines"

Full story: http://www.scoop.co.nz/stories/SC1210/S00058/producing-fuel-from-air-and-electricity.htm