For a concrete in-the-now example see A Methanol Economy Way Out Of Here, or for a futuristic example see Nanoengines For Spacecraft?
Across the pond in Europe, specifically Italy, a test is taking place on a new energy system based on what some are calling "cold fusion" while others call it an "E-Cat (Energy Catalyzer) device".
The test is described as:
For the next few days, PES will be scanning the net to bring you the latest and most up-to-date information about the important October 28 test of the 1 megawatt E-Cat (Energy Catalyzer) device, taking place in Italy. PESN's founder, Sterling D. Allan, will be in attendance at the private event. Keep checking this page for the latest news and updates!
(Pure Energy Systems). Others describe it as a scam, or just another event in the relentless pursuit of magic energy:
I’m going to go out on a limb here with a prediction. The energy world will look exactly the same the day after October 28th, 2011, as it did yesterday. Why? On October 28th we’re expecting a public demonstration of a “revolutionary” new energy device in Bologna, Italy. The magic technology? Another too-cheap-to-meter construct called the “e-cat” machine invented and promoted by Italian Andrea Rossi. Cold fusion … again, but with an updated label; Low-Energy Nuclear Reaction. Will it change the world? No. Will it work? Doubt it.
(Forbes). The Forbes author then goes on to say purchase oil stock and keep focused, steady as she goes, on the status quo.
Thus, it is unlikely that the oil wars are going to be replaced with an era of peace any time soon.
Evidently the test did well enough to satisfy the customer:
"Q&A just finished; reading of results; 470 kW maintained continuously during self-sustain; customer satisfied; sale made; more later."(Twitter). Will check up on this to try to verify it in the days ahead.