Although the timing of when transportation fuel growth will flatten is uncertain, companies and countries are examining and implementing strategies to hedge their exposure. One mitigation strategy is a greater portfolio concentration in chemicals, especially along refinery-integrated pathways. This concept is not new but has evolved over time. Crude barrel conversion has increased from less than 5% in the 1990s to refinery complexes targeting over 70% with the deployment of new yield-increasing technologies. What are the risks and opportunities associated with this strategy?