Not sure whether it would be more or less efficient than a battery powered electric vehicle, though I'm guessing less, but you still have to use energy to super cool the air. It's going to have major problems controlling the temperature gain, especially in hot environments, and I'd have some safety concerns with fueling the thing. Have you ever seen what liquid nitrogen does to a tennis ball? I really don't think it is going to be a government conspiracy that prevents this tech from catching on, I think that battery powered vehicles, and possibly hydrogen fuel cells will have a better shot. It certainly is innovative, but I'm not sure it will be practical.
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