Disclosed is a method of making coagulant and viscoelastic compositions for use in removal of dispersed, solubilized, and emulsified oils and hydrocarbons and other noxious species from water and air. The composition comprises thermal reaction products of blends of fatty acids derived, isolated and purified from drying and semi-drying oils such as linseed, safflower, and tung oil with a polymer such as for example poly(isobutyl methacrylate) and can include a solvent. The product of the invention facilitates cohesion of oils and hydrocarbons independent of agitation and temperature and may be used in both salt and fresh water, air and other gaseous streams.