There are a number of technologies currently under development to do this.
One is a solar system combining carbon dioxide from the air and water but is very very slow.
The other more interesting one that spring to mind is a genetically engineered bacteria that excretes a hydrocarbon that can be converted to petrol.
The Energy is always an issue in the first case you need enough solar to do it - in the second you need to feed the bacteria - presumably that effectively makes it a bio-fuel in the first place.
As for 90p a gallon that's complete tosh - there's no way they know how much it would cost - there's the tax issue already mentioned but production costs, distribution, retail mark ups are simply guesses on their part.
In this case Cella energy make a hydrogen storage membrane
http://www.cellaenerg...ndex.php?page=Markets
This does not resolve the issue of where you're going to get the hydrogen from.
To electrolyse enough water to replace the petrol we currently use with hydrogen would mean that our elecreicity generation requirement in this country would go up 1000%
Ten times more power stations
That's a lot of Uranium!