SThis chart illustrates the dramatic product mix change that has taken place in Europe relative to the rest of the world by graphing middle distillate demand’s share of total demand for gasoline and middle distillates.  With Europe representing about 21% of the world’s gasoline and middle distillate consumption, it has an impact.
	SMiddle distillates in this graph includes diesel, heating oil, kerosene, and jet fuel, and gasoline includes naphtha.  But the change in middle distillate demand’s share captured in the chart is driven mainly by changes in diesel fuel demand.
	SWhile not shown on the chart, the U.S. share of middle distillates has shifted slightly higher (2% change since 1985), and the rest of the world has actually shifted a bit towards more gasoline.
	SEurope’s strong shift away from gasoline to distillate has created some supply challenges for itself that have affected the U.S. gasoline and distillate markets, as will be discussed.