After watching about 30 different versions of this video, I stumbled across ‘the original’ posted by the director, Dave Rondot.
All the versions of the story behind the video I managed to find are slightly different, but there are some common threads; it’s a is spoof of the copy written for a GMC trucks training film. The narrator is “Bud” Taggart, top voice talent for technical films in the 70’s.
Bud pioneered use of ‘the ear’ which lets you deliver live speech without a teleprompter, and is now used in almost every live TV broadcast. Bud was tired of not understanding what he was being paid to read, so he decided to make something that nobody would understand.
Wikipedia says the original description of the Turbo-Encabulator was written in 1942 by Artthur D. Little Inc (and I found this which says the same).
Fascinating trail of stories. Wherever it came from, the delivery is outstanding and utterly convincing. Probably the best example of technobabble you will ever hear - it’s not cheap, but I’m sure the government will buy it.