ms. gordon? >> i don't know that would it would be easy for consumers to understand this but because oils are so different from the oils we are so largely now the heavier oils, don't preferentially make more gasoline to they make more diesel. so the oils we are now looking to export, those do they are lighter oils can they go through refineries can they make more gasoline. so we might be getting ready to export the perfect will to make more gasoline in order to keep and refine the oil that makes more diesel. it's not a consumer issue than because our consuming public doesn't use diesel. they use gasoline. so it's just a little complicated here and the question was volatility. i think consumers are going to need to understand in the future possibly not explain high prices but volatile prices. volatility will really hurt america because we are equal in large part consumer and producer of oil and product. that if the markets become a volatile we are going to hurt more than anyone else. >> okay. my t

ms. gordon? >> the global production isn't type-specific anymore. it is happening all over and this is going to happen in refinery. the country that added more refining was saudi arabia. we are seeing china adding as well. so demand is in the developing world really. so to move that demand closer, refined products closer to people that will consume -- latin america, middle east, africa -- that is where future demand growth is -- throughout asia -- so the whole market is shifting somewhat. i don't think you can draw a circle around north america easily in this market. >> although, i want to. >> i know. thank you. >> and at this time i recognize the gentlemen from new york for five minutes. >> thank you, mr. chair. >> in a number of hearings i attended, i noticed the subject is an environmental issue and there are issues about the estimate of the cost and the benefits. and that is fine. they explore the assumptions made in the roads of uncertainty or certainty or the estimates and how sensitive that is. this is a major focus about the projections on c

ms. gordon? >> i could say that in terms of what was said earlier, global production has become very -- it's not site specific. it's also going to happen in refi refining. so we're seeing china adding refining capacity, saudi arabia adding refining capacity. demand is really in the developing world. to move that demand closer, refining products closer to people that will consume, we're talking latin america, the middle east, africa, that's where growth is throughout asia. the market is shifting somewhat. i don't think you can draw a circle around north america easily in this market. >> although i want to. >> i know. >> thank you. >> thank you. >> at this time, i recognize the gentleman from new york for five minutes. >> thank you, mr. chair. in a number of the hearings i have attended, i noticed when the subject is an environmental public health or consumer regulatory issues, there are questions about the estimates of the costs and benefits of the policy in question. that's fine. those questions

ms. gordon do you hav anything to add to tha >> if i uladsi if we look at past sittions where we have hadcpitous price eclines, you think you anook at intertionally and say that e pricedeles some point co the engin f renewed growth. beuse the chins dndia's inbrazil's of the rld all of a sud if they start seeing 50-dollar oil hed start sanget's rejuvenate some of our economy and ramp prects thatidn't ke ene a 10doaril. member think it wasin 98 th the price ofilell i think 170 118 somethg like at down to $38.7 months but came rapidly back up. i believif rember correctly in the 7 a worked its way up to ee it was beforethe current pre drop low oil prices for those countriethat e huge oil importers and fast-gwi opulatnsin asi thoseoil prices a prudent and some inwi rejuvenate the chinese nd indian economiean bring pefully th est of the world along with t as dean for gods and services once again intensy. >> mr. chair i yield back >> at this me i rcni the gentleman omirnia mr. griffith for five minutes. >> thank y mr. chairman. petroleum coke. i love oming to eshearings because ilen all kinds of

ms. gordon, has there been any qualification of that, even though we're doing heavier crude and producing a lot more diesel that we don't use that our country, a result of low sulfur because that helps put in the countries that are by that from us. now compared to the diesel that may be coming from other parts of the world. >> yes. certainly taking the sulfur out will be fantastic for health and for the environment, but the question is for the heavier coat. when you put koch into these refiners you basically remove the middle of the agenda put a lot more gas and diesel which is good for profit and a lot more of solid substance called petroleum coke. we're also exporting that but i think with increased appetites of increased use has increased its exports to china like 70 fold in the last several years. it's a coal subsidy and it's worse than coal insurance of emissions. a kind of cuts both ways. >> mr. chairman, i know i'm over my time i like to talk about petroleum coke when i get to my time. >> recognize the gentleman from ohio for five minutes. >> thank you, mr. chairman. again, as has