BP is touting diesel in earnest. At a summer gathering of large customers, BP execs put on a show projecting that demand for diesel could be greater than the growth in gasoline sales in the next 12 years. According to the company's presentation, it believes it is particularly well-situated to leverage a diesel demand spurt on the East Coast. For example, it says that PADD 1 demand was about 2.173 million b/d in 2006, with an average 298,000 b/d of imports. It predicts demand for the fuel will be more than 35% higher by 2020, or just short of 3 million b/d. However, growth in gasoline demand may be stagnant, with lower imports due to increasing U.S. refining capacity, greater fuel economy, displacement of more gas by ethanol and growth in light diesel vehicles.
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