http://www.theglobea...article1871149/
So, they're claiming to produce fossil fuels with photosynthesis, capturing carbon dioxide from the air. This is similar to research being done at my university: use algae that produce fuel compounds through photosynthesis, and just extract the fuel. But they're nowhere near producing $30/barrel of crude oil in the volumes that this company claims.
If this company isn't full of BS, this promises a closed carbon cycle where carbon dioxide emitted by fossil fuel use is used to make more fossil fuels. If they are full of BS, well... we've seen this before.