Python C extension providing... Python's own API?

[Adam Atlas]

Does anyone know if it would be possible to create a CPython extension
-- or use the ctypes module -- to access Python's own embedding API
(http://docs.python.org/api/initialization.html &c.)? Could a Python
program itself create a sub-interpreter, and work with it with all the
privileges and capabilities that an actual C program would have?

I realize that this may be a bit too... mystical? ... for a lot of
people's tastes, but I'm just curious if it's possible. :)