How can I emulsify cod liver oil, or otherwise mask its taste?

This should be no problem. It is basically the same process as making a vinaigrette, only using water instead of vinegar, and lecithin instead of mustard. Here's how I would go about it. Let's say you have 1 cup of oil to emulsify. Go buy soy lecithin at a health food store. Take 1/2 cup of water, and dissolve 1 teaspoon of the soy lecithin in it. Use a blender or immersion blender. With the blender running, slowly drizzle in the cod liver oil. It will emulsify - the oil will disperse into ultra-fine droplets in the water, and presumably the taste will be both diluted and somewhat hidden by being locked up in little droplets. If this doesn't work, you just need more lecithin, so dissolve a bit more in another 1/4 cup of water and drizzle the whole thing back in to the blender.

Naturally you'll want to take 50% more, since the oil is now only 2/3 of the volume.

Those other ingredients are for flavor and anti-oxidation, not needed for the basic thing you are trying to accomplish.

Ok I can give you an idea on what to do but it is a long shot.

From what i see they use

1 Emulsifier •soy lecithin

3 Thickeners •tragacanth gum resin •apple pectin •cellulose

1 Swetener •sorbitol

1 flavour •orange flavors

The rest is Vitamins. You dont need to add them.

So you can use sugar instead of sorbitol.

Soy lecithin should not be hard to find. I am making a fish oil emulsion using whey protein isolate. You can try that one to. If you want something that is in all kitchens I can sugest egg whites.

For thichener if you dont want to find this "exotic stuff" you can try using gelatin you can find in all supermarkets.

Flavour you can really use any flavour you like it does not have to be orange ^^.

Now the tricky part is to find the proper proportions between oil/water and emulsifier.

This needs experimentation and it is different with each emulsifier.

The good part is that you can use any oil like used cooking oils for the experimentation you dont have to use expenssive fish oil. Make the emulsion and leave it for a day. If it has not split after 24h it is a success!

Use the fastest rotating mixer you have and leave it running for more than 3 minutes. (must be really really powerfull if you want to stand a chance, you Cannot do it with a joke mixer.

If you want to avoid experimentation you can try an emulsion using 67% fish oil, 3 % whey protein isolate 30 % water. It works.

Take one tablespoon of cod liver oil. Add 2 tbsp of fresh squeezed orange juice or skim milk. Put in a little jar, like a baby food jar, and shake hard for 15 seconds. Drink down fast. Don't make a large batch at one time.