I agree. Cold air intakes are designed to add more oxygen, and create more horsepower, burning MORE GAS in the process.
Liquid gasoline does not burn. Only gasoline vapors burn. The colder the air/gas mixture, the more difficult it is vaporize to ignite, and you risk loosing more gas unburned out the exhaust.
A WARMER air intake is going to be a more fuel efficient one.

-John