Step-change experiments between H-2, CO, and syngas mixtures with time resolution of ca. 0.3 s were undertaken to critically test mechanisms proposed in the literature for the Fischer-Tropsch synthesis. A silica-supported cobalt catalyst was used. Results suggest C2+ olefins and branched paraffins form from a carbon deposit on the catalyst surface. Two pathways appear to exist for methane formation. The first of these is from the carbon deposit through direct hydrogenation and through hydrogenolysis of the long-chain materials formed. The second pathway is hydrogenation of strongly adsorbed CO.