There are major developments in the science and technology of catalyzed hydrogenation of carbon oxides. Experiments reveal the structural sensitivity of H-2 and CO bonding and the potential energy surface leading to dissociation. The theoretical descriptions, of H-2, CO, and CO2 bond activation become more complete and show good correlation with experiments. CO2 hydrogenation to methanol dominates over Cu/ZnO catalysts, while methanol is produced primarily by the CO hydrogenation route over palladium-based systems. The oxide-metal interface sites are often better catalysts for C-O bond activation than the transition metal itself because of the Lewis acidity of certain high oxidation state transition metal oxides that resist reduction. Secondary reactions leading to oligomerization and polymerization of CHx fragments often occur. When higher molecular weight hydrocarbon production is desired, usually promoted binary alloy Go-Re and Co-Ru catalyst systems are utilized. Developments obtaining heat balance during steam reforming and in catalytic reactor technology have greatly improved the economics of producing liquid fuels from natural gas.