No, its N2O.
Oxygen has two free bonds and a lone pair.
Nitrogen hooked to oxygen is semi-unstable, two of them even more so. Makes it much better to burn because the N comes off readily and leaves a free oxygen ready for the fuel. The two N's form N2 gas (inert like what we breath) and then become more heated gass for expansion.
Kinda nice the way that works out.
Former owner of '99 CSVT - Silver #222/2760
356/334 wHP/TQ at 10psi on pump gas!
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'05 Volvo S40 Turbo 5 AWD with 6spd, Passion Red
'06 Mazda5 Touring, 5spd,MTX, Black
