In this manuscript we address the efforts reported in the literature on direct conversion of methane and carbon dioxide into higher value products. The abundance of these two greenhouse gases makes them potentially useful for chemical syntheses. However, strong intramolecular bonds render both molecules chemically inert and thermodynamically stable. Thus, significant energy inputs as well as properly designed catalytic systems are required for their reactions. In addition to traditional catalytic processes, new alternative routes-such as photocatalytic conversion and dielectric barrier discharges-have been suggested. Figures of merit for comparison of various approaches have not yet been reported and are overdue.