Explanatory Notes:
	Slides 31-34
	These slides were prepared by sorting the crude oil import data (Form EIA-814) for individual refineries into the following categories:
	Lt Sweet   Med+Hvy Swt     Lt Sour   Med Sour   Hvy Sour
	API=,>35     API<35     API>32   API 28-32   API<28
	The data were aggregated with other refineries having some attributes in common. Slide 31 is based on all U.S. refineries reporting crude oil imports.  For slides 33 and 34, the import data were brought together with refinery input and product output data (as reported in form EIA-810) and with data on unit inputs for distillation, FCC, hydrocracking and coking (also EIA-810 data).
	Slide 38
	One line on Figure 38 shows the difference in the calculated total product value when LLS (Light Louisiana Sweet) is run in a cracking refinery on the U.S Gulf Coast minus the total product value when running a heavier Mars crude oil through the same refinery type. The lower value for Mars comes from the higher yield of residual fuel oil and lower gasoline and distillate yields as shown in the table below:
	Region       Refinery Type Crude Oil              Refinery Product Yield (Vol %)
	Petroleum   Gasoline/                   Gases        Naphtha         Distillates      Fuel Oil
	USGC   Cracking      LLS          -2.7              49.1                40.9                10.8
	USGC   Cracking      Mars         -0.4             43.4                 22.5               32.8
	NW Europe   Cracking      Brent         4.7              42.6                 41.3               10.5
	NW Europe   Cracking      Urals         3.9              37.3                 41.9               17.1
	Source: Purvin & Gertz foe IEA as reported in IEA Users Guide (2004 Edition)- 11 Aug 2004 pg 66
	The other line shows the difference in the spot market prices for the two crude oils.