This is the kind of innovation that will attract the wrath of oil producers, but the petroleum industry would embrace because they can produce and sell it without being dependent on questionable governments. I am skeptical, but the process could work especially as a method of storing interrupted power sources such as wind and solar. I like the effects without consideration of the environment, and we need to push all possible methods.
Well, it might work if you were partnering w/ a brewery and capturing/processing the carbon-dioxide waste from fermenting*... that's kind of how we got gasoline in the first place: it was a waste product.
It might not be enough to dent the global supply, but if crude-prices are high it might be enough to turn a bit of profit.