Magnetic Motors - The end of gasoline?

Magnetic/Electric propulsion has been around for quite awhile. It has been used in forklifts going back as far as the early 50's. I worked for Hyster forklifts for 11 yrs. as a mechanic specializing in electric powered units and was lucky enough to attend about a dozen factory training seminars with some very smart instructors. The early units weren't very efficient but the last models I worked on (3-4 yrs. ago) were decent. Nevertheless they weren't anywhere close to what this guy claims although his is entirely magnetic propulsion which could be more efficient. I'm not a magnetic motor expert by any means but I do have to agree with the college that said if this works several laws of physics will have to be re-written because generally speaking there is no such thing as free energy except solar power. I would love to see it work so we all can all get farther away from foreign oil dependence but I have a hard time believing that it produces more power than it consumes.

BTW: Do you ever watch Pass Time on the speed channel? About a month ago there was a guy there that ran his totally electric S-10 pickup that he built from a forklift drive system. I knew electric motors have alot of potential now but my jaw about hit the floor when he ran low 11's.