There is no increase in fuel efficiency to be found with the installation of a cold air intake.
What you're failing to consider is the air/fuel ratio. This ratio is monitored and controlled by the ecu to ensure that the engine operates as close to a stoichermetric ratio of 14.7 pounds of air to 1 pound of gasoline as possible. When this combustion ratio is not met, byproducts of incomplete combustion is produced. Too rich, and you get excess hydrocarbons (HC). Too lean and you get excess nitrogen oxide (NOx).
The ecu monitors this mixture through the oxygen sensor in the exhaust stream and adjusts the air/fuel mixture to compensate for an excessively lean or rich mixture. This is known as closed-loop feedback operation.
So what happens when you throw in a cold-air intake (assuming you'll move more air through the engine)? During closed loop operations, the oxygen sensor will detect that the extra air coming into the engine has leaned out the fuel mixture, and the ecu will compensate by adding more fuel to richen things back to that magical 14.7:1 ratio. There's a lot more that happens, but this is the very very very basics of closed-loop operation.
So while you think you're increasing volumetric efficiency (in theory) with the installation of a cold-air intake, you're really decreasing fuel efficiency with the installation of a cold air intake.
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Cameron originally envisioned the Terminator as a small, unremarkable man, giving it the ability to blend in more easily. As a result, his first choice for the part was Lance Henriksen. O. J. Simpson was on the shortlist but Cameron did not think that such a nice guy could be a ruthless killer.
-From the Collector's Edition DVD of The Terminator
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