Porsche is replacing gasoline with air and water
(www.foxnews.com)
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All these fuel from water ideas are a con in my view. What they are really making is a different kind of battery which you need to charge up. The con comes when you realise that you still need to have a real source of energy to make the "fuel" - just like you do when you charge a battery.
OK, the cars can use a liquid instead of a solid battery to provide power but the real source of the energy is elsewhere. You still need wind/solar/coal/oil/gas/nuclear etc to make it work.
You are probably right. Even if you use steam engine, you still need to burn wood. I cannot tell where the energy source comes from yet.
We just wait and see.