|SLooking at U.S. demand, note that, unlike Europe, gasoline
dominates the U.S. transportation fuel market. But diesel demand has been pushing total
distillate demand up at a higher growth rate.
Even the volume increase in distillate from 1995 through 2005 is
almost as large as the volume increase in gasoline.
|SFast rising distillate demand will put more pressure on the
refinery mix as its share of the light product market increases.
|SWe need to look behind the growth in these two products in
the U.S. more closely to see what the future may bring.