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A conversion could not be done over night. A conversion from running vehicles on water opposed to fossil fuels, or other alternative energy sources. To date the technology exists to drive 100 miles on 4 ounces of water.
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Of all the assumptions one could attack in the OP, no one bothered with this one? Are you fuckin' kidding me? This is absolutely, verifiably, patently, completely, utterly, entirely, enormously,
FALSE
YOU CANT FUCKING RUN A CAR ON WATER WITHOUT EXPENDING MORE FOSSIL FUELS IN CHARGING THE BATTERY.
It's thermo-fucking-dynamics for crissake and I'm tired of hearing this "we can run everything on water" GARBAGE.
To create one joule of energy stored as H2 and O2 requires more than 1 joule of electricity. It doesn't matter where you get that 1 joule of electricity (solar cells, gasoline, hydroelectric...) you still loose some energy in the process. AND YOU'RE STILL DEPENDENT ON THE OTHER FUEL SOURCE.