We claim: 1. A method of conducting Fischer-Tropsch synthesis, comprising: providing a microchannel reaction chamber comprising a catalyst for Fischer-Tropsch synthesis, wherein the microchannelreaction chamber has at least one dimension of 8 mm or less; passing a feed stream comprising a mixture of hydrogen and carbon monoxide gas through the microchannel reaction chamber with a residence time of about 1 second or less and at a temperature of275.degree. C. or less; wherein the mixture comprises hydrogen and carbon monoxide in a ratio of from about 2:1 to about 3.5:1; and converting at least 50% of the carbon monoxide in the mixture to hydrocarbons. 2. The method of claim 1 wherein the microchannel reaction chamber comprises at least one reaction chamber wall and wherein said at least one reaction chamber wall separates the reaction chamber from at least one cooling chamber. 3. The method of claim 2 wherein the microchannel reaction chamber has at least one dimension of 1 mm or less. 4. The method of claim 3 further comprising a methane selectivity of 24% or less. 5. The method of claim 1 wherein the catalyst comprises Co and Ru. 6. The method of claim 5 further comprising a methane selectivity of 24% or less. 7. The method of claim 6 wherein the catalyst comprises a metal foam support. 8. The method of claim 1 wherein the catalyst comprises a metal foam support. 9. The method of claim 1 wherein the temperature is in the range of 264 to 275.degree. C. 10. The method of claim 9 further comprising a methane selectivity of 24% or less. 11. The method of claim 1 further comprising a methane selectivity of 24% or less. 12. The method of claim 2 wherein the temperature is in the range of 264 to 275.degree. C. 13. The method of claim 2 wherein the catalyst comprises a metal foam support. 14. The method of claim 13 wherein the microchannel reaction chamber has at least one dimension of 1.5 mm or less. 15. The method of claim 12 wherein the microchannel reaction chamber has at least one dimension of 1.5 mm or less. 16. The method of claim 9 wherein the microchannel reaction chamber has at least one dimension of 1.5 mm or less. 17. A method of conducting Fischer-Tropsch synthesis, comprising: providing a microchannel reaction chamber comprising a catalyst for Fischer-Tropsch synthesis, wherein the microchannel reaction chamber has at least one dimension of 8 mm orless; passing a feed stream comprising a mixture of hydrogen and carbon monoxide gas through the microchannel reaction chamber with a residence time of about 2 seconds or less and at a temperature of 275.degree. C. or less; wherein the mixturecomprises hydrogen and carbon monoxide in a ratio of from about 2:1 to about 3.5:1; and converting at least 50% of the carbon monoxide in the mixture to hydrocarbons. 18. The method of claim 17 wherein the microchannel reaction chamber comprises at least one reaction chamber wall and wherein said at least one reaction chamber wall separates the reaction chamber from at least one cooling chamber. 19. The method of claim 17 wherein the microchannel reaction chamber has at least one dimension of 1 mm or less. 20. The method of claim 18 wherein the catalyst comprises Co and Ru. 21. The method of claim 17 comprising converting at least about 80% of the carbon monoxide in the mixture to hydrocarbons. 22. The method of claim 18 comprising a selectivity to methane of no more than about 10%. 23. The method of claim 17 wherein the microchannel reaction chamber comprises a porous interfacial layer having a thickness of less than 50 microns. 24. The method of claim 3 wherein the microchannel reaction chamber comprises a porous interfacial layer having a thickness of less than 50 microns. 25. The method of claim 17 wherein the microchannel reaction chamber comprises a porous interfacial layer having a thickness of less than 20 microns. 26. The method of claim 3 wherein the microchannel reaction chamber comprises a porous interfacial layer having a thickness of less than 20 microns. 27. The method of claim 23 wherein the porous interfacial layer comprises a metal oxide impregnated with a catalyst metal selected from the group consisting of Fe, Co, Ru, Re, Os, and combinations thereof. 28. The method of claim 24 wherein the porous interfacial layer comprises a metal oxide impregnated with a catalyst metal selected from the group consisting of Fe, Co, Ru, Re, Os, and combinations thereof. 29. The method of claim 25 wherein the porous interfacial layer comprises a metal oxide impregnated with a catalyst metal selected from the group consisting of Fe, Co, Ru, Re, Os, and combinations thereof. 30. The method of claim 26 wherein the porous interfacial layer comprises a metal oxide impregnated with a catalyst metal selected from the group consisting of Fe, Co, Ru, Re, Os, and combinations thereof. 31. The method of claim 17 wherein the microchannel reaction chamber comprises a porous interfacial layer having a thickness of less than 20 microns. 32. A method of conducting Fischer-Tropsch synthesis, comprising: passing a feed stream comprising a mixture of hydrogen and carbon monoxide gas through a reaction chamber; wherein the microchannel reaction chamber has at least one dimensionof 8 mm or less; wherein the reaction chamber comprises catalyst structure comprising a porous interfacial layer having a thickness of less than 20 microns; and converting at least 50% of the carbon monoxide in the mixture to hydrocarbons. 33. The method of claim 32 wherein the catalyst structure comprises a first porous structure having a first pore size of at least about 0.1 .mu.m and wherein the porous interfacial layer is disposed over the first porous structure and whereinthe porous interfacial layer has a second pore size that is less than the first pore size; and further wherein the step of converting the carbon monoxide is conducted at a temperature of at least 200.degree. C. and wherein the selectivity to methane isat most 25%. 34. The method of claim 33 wherein the porous interfacial layer comprises a metal oxide impregnated with a catalyst metal selected from the group consisting of Fe, Co, Ru, Re, Os, and combinations thereof. 35. The method of claim 32 wherein the reaction chamber comprises at least one reaction chamber wall and wherein said at least one reaction chamber wall separates the reaction chamber from at least one cooling chamber; and wherein theresidence time of the mixture in the reaction channel is less than 5 seconds. 36. The method of claim 35 wherein the reaction chamber has at least one dimension of 1 mm or less. 37. The method of claim 34 wherein the reaction chamber has at least one dimension of 8 mm or less. 38. The method of claim 32 wherein the porous interfacial layer comprises a metal oxide impregnated with a catalyst metal selected from the group consisting of Fe, Co, Ru, Re, Os, and combinations thereof. 39. The method of claim 38 wherein the reaction chamber comprises at least one reaction chamber wall and wherein said at least one reaction chamber wall separates the reaction chamber from at least one cooling chamber; and wherein theresidence time of the mixture in the reaction channel is less than 5 seconds. 40. The method of claim 35 wherein the reaction chamber has at least one dimension of 1 mm or less. 41. The method of claim 40 wherein the residence time of the mixture in the reaction channel is less than 2 seconds. |