You're looking at a 5-passenger prototype SeaPhantom ground-effect boat, by David Borman. The prototype uses only a small outboard motor to reach 70 mph (a larger motor can get it up to 100+ mph).
Here's the SeaPhantom in action:
Hit play or go to Link [YouTube]
"Ground effect" [wiki] seems familiar, huh? - if you're wondering whether you've read it on Neatorama before, you'd be right. See Bigger is Better: 7 Insane Soviet Projects (#3 the Ekranoplan)
a boat which is going to do a lot of things, amongst them: FIGHT TERROR! yes!
in these times of hyper-reality it seems comic book action has entered real life. i can see batman using this chasing palestinian suicide bombers on their jetskis! tomorrow night! in prime time!
not to speak of the strange remark about the 'unnamed south-american country', really... let's just forget about that one.