Gavia Immer
Nobody mentioned 5000 hp (before you, that is!)
But, yes, being up on a solid plane does burn far less gas than plowing along between displacement and planing speeds, because it makes less wake.
Whether it fits your agenda or not, it's a fact, and something that any skipper interested in minimizing their wake (and their fuel bill) should be aware of.
As for your second statement, that's pure hyperbole, again designed to fit your agenda. Even the worst of the wakes that Captain Bonehead sees fit to gift us with are quite easily manageable by today's typical lake boat (which is, by my observation, on the order of 18 - 24 ft) if the operator is knowledgeable enough to approach the wake at an angle.
What is it, exactly, that you consider to be a typical lake boat? Also, what does "the fastest boats seen on the lake " have to do with the subject?
Silver Duck