No, just the opposite.
In 2013, natural gas is expected to be $3.34 per MMBtu. It should average $2.65 per MMBtu in 2012.
http://www.eia.gov/forecasts/steo/archives/Sep12.pdf
The current price of diesel in the US is over $31 per MMBTU. There is a lot of room to spend money on the conversion and still profit on the conversion.
Another reason for gas to liquid conversion is the 1000x “compression” that occurs.
There is lots of stranded natural gas ie gas that is too far away from viable markets. Currently they flare it. Having the ability to turn this waste product into usable crude is a good thing.
I’ve been nibbling at Cheniere Energy (CQP), a domestic coverter of nat gas to LNG with pipelines and terminals for export.