Exxon-Mobil to build N. Gas to Diesel plant in Qatar

Another read between the lines? Is it interesting that Exxon-Mobil is looking to convert Qatari natural gas to diesel? I wonder whether the business rationale is to create cheaper diesel, or anticipation that current petroleum diesel will become much more scarce and expensive enough (due to depletion) to make this profitable? Afterall, there is a several year lag time by the time these thing come on-line. Seems to match the depletion time lines that Matt Simmons has been putting forth for Arabia.

HoustonChronicle.com