NOVELTY - A system for converting a carbon-containing feedstock into a liquid transportation fuel product, comprises: an air-blown producer gas reactor operable to convert the carbon-containing feedstock into a producer gas comprising hydrogen (H2), carbon monoxide (CO), carbon dioxide (CO2), and nitrogen (N2); a processing unit, where the processing unit comprises a Fischer-Tropsch (F-T) reactor, and a cracker; and a product upgrading unit.    USE - The system is useful for converting a carbon-containing feedstock into a liquid transportation fuel product (claimed).    ADVANTAGE - The system can produce low cost fuel product which can supplement or replace conventional fossil liquid fuels.    DETAILED DESCRIPTION - A system for converting a carbon-containing feedstock into a liquid transportation fuel product, comprises: an air-blown producer gas reactor operable to convert the carbon-containing feedstock into a producer gas comprising hydrogen (H2), carbon monoxide (CO), carbon dioxide (CO2), and nitrogen (N2), with substoichiometeric amounts of H2 and CO (less than 2:1 molar ratio of H2 to CO); a processing unit, where the processing unit comprises a Fischer-Tropsch (F-T) reactor, and a cracker, where the F-T reactor is fluidly coupled to a source of feed gas and operable to convert at least a portion of the feed gas into a Fischer-Tropsch synthesis (FTS) product, where the FTS product comprises the liquid transportation fuel product and a first residue, and where the cracker is fluidly coupled to the F-T reactor and operable to catalytically crack at least a portion of the first residue to produce an additional amount of the liquid transportation fuel product and a second residue; and a product upgrading unit, where the product upgrading unit is operable to produce an additional amount of the liquid transportation fuel product from a product gas. INDEPENDENT CLAIMS are included for:    (1) converting a carbon-containing feedstock into a liquid transportation fuel product using the system; and    (2) converting a carbon-containing feedstock into a hydrocarbon wax, which involves: converting the carbon-containing feedstock into a producer gas comprising H2, CO, CO2, and N2; reacting the producer gas with a substrate catalyst to produce a FTS product, where the FTS product comprises a hydrocarbon gas, a liquid, and a first portion of the hydrocarbon wax; and reacting at least a portion of the hydrocarbon gas and liquid with the substrate catalyst to produce a second portion of the hydrocarbon wax.