|SNow consider U.S. capacity decisions in the
context of competing with capacity from abroad.
|SHistorically, capacity abroad has been very
competitive in the U.S. gasoline market, as demonstrated by gasoline imports
having doubled in volume since 1990.
As a result, imports have become an essential source of gasoline
supply to the U.S. East Coast, where they met 24% of East Coast (PADD 1)
demand in 2003.
|SBut will these competitive imports continue to
be available and grow to help meet growing U.S. demand?