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actually this technology does exist & work...most ocean going ships use it...the electrical charge in the metal will help reduce oxidation (rust)...I worked on a R&D project at work not too long ago & we were looking at doing the same thing for the buoys we were using
here's a blurb from wiki on it
"Cathodic protection is a technique used to inhibit corrosion on buried or immersed structures by supplying an electrical charge that suppresses the electro-chemical reaction. If correctly applied, corrosion can be stopped completely. In its simplest form it is achieved by attaching a sacrificial anode thus making the iron or steel the cathode in the cell formed. The sacrificial anode must be made from something with a more negative electrode potential than the iron or steel, commonly zinc, aluminium or magnesium."
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