Periodic assessments of the potential for exploiting lasers in the chemical industry are merited, as are continued explorations of photochemical systems which might be scaled to industrial operations. k brief review will be presented of photochemical processes in current use, so that benchmark levels of material costs, of levels of through-put, and of competing conventional sources of radiation, be available. For contrast, one should consider trends in the development of moderate to high-power lasers, to estimate efficiencies and relative costs which may be attained in the not too distance future. In particular, using optimistic design parameters, what can be forseen with respect to the construction and use of a free-electron laser system, continuously tunable in the vicinity of 3pm, with an output of 90 Kw? If a choice must be made between the use of excimer lasers for single-photon processing, or the use of IR lasers for multiphoton absorptions, how does one balance the advantages of high frequencies and high laser powers (and very short pulse durations), against the disadvantages of injecting too much energy per molecule and the possible further decomposition of the desired photofragments due to their own absorptions? In previous reviews attention was called to the types of reactions which are of industrial interest, and also may satisfy the limiting criteria imposed by laser costs. Has progress in the development of laser systems altered these assessments?