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St. Petersburg, Florida -- Liquor is big business, $20 billion dollars a year in sales, but a new product could change that if it's approved.

"Palcohol" is a powdered liquor that reportedly received initial approval from the federal government this month, but late Monday, the feds backtracked, saying the approval was in error.

Liquor experts say it's just a protocol formality, that the company has re-submitted all information, and the product should hit store shelves this fall. Gateway Liquors was inundated with phone calls this morning when news of "Palcohol" went public.

"A customer just came by and told me about it and I was surprised," said manager N.J. Roma.

Gateway customers were intrigued, but skeptical.

"It's interesting. They're thinking about it all at this point, ya know," said Joshua Royals.

"You sit down and make a cranberry and vodka ... is it going to taste the same?" said Ray Schall.

At Courtside Grill, customers were also curious about liquor in a powdered form, but were stunned when we told them concerns had already been raised about teenagers possibly snorting the powder.

"I don't know why anyone would think to do such a thing," said Elliot Whaley.

"If you give the minors the opportunity to get a grasp on it they could abuse it, and they're the ones who abuse it in the first place," said Anna Delgado.

The appearance of the actual product is unknown, but it is said to be like a soft drink packet that is just added to water.

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