Your main assumption is that it is fuel that burns, but in reality it is the air and fuel mixture that burns. Fuel helps ignite and regulate the burn, and more air actually makes more power but its also more uncontrollable and can cause detonation of the mixture too early in the cycle.
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While a standard engine is powered by a belt connected to the crankshaft, a turbo engine runs on its own exhaust steam, making it more energy efficient. -- CNN
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