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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Elroy Jetson who wrote (169549)12/6/2008 7:54:32 PM
From: Peter VRead Replies (1) of 306849
 
I'm no economist and certainly no refining expert, but I would think that if diesel became a popular fuel, big oil would make it more competitively priced. After all, it's cheaper than gas almost everywhere else in the world, especially in Europe where it's very popular.

I visited the BMW 3-series plant in Munich in 2002, and at least 40-50 percent of the cars I saw coming off the line were diesels. I'm pretty sure that a lot of those cars were headed for the US, which had no diesel models at the time, and thus the percentage of diesels for the Euro market was probably even higher.

US Refineries choose to make less diesel in favor of gasoline, and as you say, they export lots of it. Although a significant increase in diesel production requires some major hardware changes, and thus will not happen overnight.

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