First, 80 MPG for a Fox-body Mustang is like 300 MPG for a Geo Metro. We haven't taken the effort to run the equations, but we're pretty sure there just isn't that much energy in a gallon to begin with, much less all of the losses from various frictions and combustion inefficiencies.

The car is to be entered in the Progressive Automotive X Prize challenge and if Doug's claims turn out to be valid, we plan on turning in our engineering card, that's all we're saying. Check out the video on YouTube and see what you think for yourselves. [Ecomodder]

The qualified entrants will compete for the giant wad of all-Progressive supplied cash in a variety of real world challenges in the categories of speed, distance, traffic, terrain, and weather. Everybody and his brother is in on this one — The US House and Senate have already approved NTSB, DOT, DOE backing with the DOE tossing $3.5 million in grant money into the fold for education of youth and consumers.; The Sierra Club and NRDC support grassroots efforts; Individuals like Al Gore, Dean Kamen (who will be entering and sits on the Automotive X Prize Board), the Governator, and many more are putting their voices behind the effort.

There are already 64 pledged entrants from 22 countries and 10 US states from private, college, and even high school groups. Four examples of which were present at the show, The Venture 1, the first look at the MDI Air Car, a Ale from France, and the "Hybrid Attack" - a diesel electric hybrid built by a team from the West Philly High School. The applications will begin being accepted starting in two months, so if you want a shot at 10 million bucks, you better start filling out the paperwork now. Find out all the nitty gritty details at ProgressiveXPrize.org.