Video from Fox News (the channel of the Bush group) presenting a water-based oxy-cutting torch.
Be careful, there is really nothing new or innovative with this technology: Brown's gas but especially the hydrogen torch of chemist Irvin Langmuir (Nobel Prize 1932) did the same a long time ago ... with electricity consumption very high.
The only (economic) gain can come from the fact that no synthesis gas (such as acetylene C2H2) and pure oxygen are required to obtain high temperatures.
The party with the car is a Hoax (a scam).