This has been known for a long time. In 1985 Mobil created a natural gas to gasoline plant in New Zealand. The price of oil dropped, so it was no longer profitable to operate. When ever oil is above $40 per barrel and natural gas is below 40 cents per therm, it is profitable. Natural gas in now below 20 cents per therm wholesale and oil is above $100 per barrel, so it is very profitable.
There are several techniques, but the one I favor can be done on a smaller scale at a lower initial capital investment. Natural gas in turned into synthesis gas (CO and H2) then DME is synthesized from the synthesis gas. Gasoline is then synthesized from the DME using catalysts.
It produces gasoline that is cleaner than the refined product, can be blended with refined product as well. By the way, the same process can be used to synthesize diesel and jet fuel as well. Over time biomass can be used to create the synthesis gas instead of using natural gas. We could be making synthetic gasoline, diesel and jet fuel from corn stalks and prairie grass.
A down side is oil producers still hold the keys. I am not in anyway an expert on the topic. I can tell you the down side to this. The oil producers lets say opec will be battling for their lives to keep controle of the dollars. They can and would most likely drop the price of oil to the bottom and leave it there for a few years. in doing so they will make this process to expensive opperate. The factory will shut down and the price of of oil will once again go back up. it is done in my industry all the time. If a competitor comes in the big boys will go to the bottom on price and stay there until they drive them out. Goes back to the old saying he who has the cash makes the rules. I am guessing it would be better to change the whole game and make cars and trucks that can use cng or gas or other fuels.