SAs in the United States, European diesel fuel consumption has grown because of growth in road freight movements.  But in Europe, most of the growth in diesel fuel has been due to the growth in diesel-fueled light-duty passenger vehicles.
		- New vehicle registrations showed new diesel vehicles exceeding 40% of new light-duty vehicles.
		- This compares to 1-2% in the United States.
	SIn Europe, tax incentives favoring diesel fuel over gasoline have existed for a number of years in many countries.  Recently, concern over greenhouse gases and carbon dioxide emissions have resulted in additional diesel fuel tax incentives.
	SFurther penetration of diesel-fueled vehicles is predicted, and as shown in the previous slide, the result could be a drop in gasoline demand.
	SThis shift from gasoline to diesel has been occurring over many years, which raises the question of whether refiners are adjusting their capacity to better match this changing fuel mix, thereby reducing the amount of excess gasoline available to the United States.