Naked Capitalism Link of the Day

Today there are two.  First, World's First Air Powered Car, at Cars New:

The Air Car, called the MiniCAT could cost around Rs. 3,50,000 ($ 8177) in India and would have a range of around 300 km between refuels.
The cost of a refill would be about Rs. 85 ($ 2).
The MiniCAT which is a simple, light urban car, with a tubular chassis that is glued not welded and a body of fiberglass powered by compressed air. Microcontrollers are used in every device in the car, so one tiny radio transmitter sends instructions to the lights, indicators etc.There are no keys - just an access card which can be read by the car from your pocket. According to the designers, it costs less than 50 rupees per 100Km (about a tenth that of a petrol car). Its mileage is about double that of the most advanced electric car (200 to 300 km or 10 hours of driving), a factor which makes a perfect choice in cities where the 80% of motorists drive at less than 60Km. The car has a top speed of 105 kmph. Refilling the car will, once the market develops, take place at adapted petrol stations to administer compressed air. In two or three minutes, and at a cost of approximately 100 rupees, the car will be ready to go another 200-300 kilometers. 

Second, Researchers Close in on Technology to Make Renewable Petroleum, at Science Daily:

Aditya Bhan and Lanny Schmidt, chemical engineering professors in the College of Science and Engineering, are turning the ketones into diesel fuel using catalytic technology they have developed. The ability to produce ketones opens the door to making petroleum-like hydrocarbon fuels using only bacteria, sunlight and carbon dioxide.
"There is enormous interest in using carbon dioxide to make hydrocarbon fuels," Wackett says. "CO₂ is the major greenhouse gas mediating global climate change, so removing it from the atmosphere is good for the environment. It's also free. And we can use the same infrastructure to process and transport this new hydrocarbon fuel that we use for fossil fuels."
The research is funded by a $2.2 million grant from the U.S. Department of Energy's Advanced Research Projects Agency-energy (ARPA-e) program, created to stimulate American leadership in renewable energy technology.
Wackett is principal investigator for the ARPA-e grant. His team of co-investigators includes Jeffrey Gralnick, assistant professor of microbiology and Marc von Keitz, chief technical officer of BioCee, as well as Bhan and Schmidt. They are the only group using a photosynthetic bacterium and a hydrocarbon-producing bacterium together to make hydrocarbons from carbon dioxide.

There are quite a few researchers trying to find ways to easily and cheaply make hydrocarbons, whether from algae, pig manure or bacteria.  I have a gut feeling that we'll start feeling the effects of peak oil prior to a cost-effective way of making new fuel.  I'd like to see us start to prepare for that.