GREEN NEW DEAL = BLIZZARD OF LIES

[Ron Wagner + 710]

https://www.breitbart.com/tech/2022/07/30/green-pork-electric-trucks-from-tesla-and-others-to-get-40000-in-incentives-under-inflation-reduction-act/

 

Green Pork: Electric Trucks from Tesla and Others to Get $40,000 in Incentives Under Inflation Reduction Act

60 SUZANNE CORDEIRO/AFP/Getty

LUCAS NOLAN

30 Jul 202271

3:09

Electric trucks, such as Tesla’s vaporware Tesla Semi which has yet to enter production, will receive up to $40,000 in incentives per vehicle thanks to the newly proposed “inflation reduction Act of 2022.”

Electrek reports that thanks to the Inflation Reduction Act of 2022, electric trucks such as the Tesla Semi or Lion Electric’s truck will receive up to $40,000 in incentives. The act was announced in the Senate this week, Breitbart News’ John Carney reported on the bill writing:

The supposedly game-changing legislative breakthrough that brought together Sen. Joe Manchin (D-WV) and Senate Majority Leader Chuck Schumer (D-NY) after months of negotiations over Build Back Better failed is cynically branded as a measure to counter the budget deficit. This makes sense in a crass political way because inflation is the number one issue facing American families and is plunging the economy into a stagflationary recession.

The first hint that this is not going to be an inflation reducing piece of legislation is that the bill includes a massive expansion of government spending. There is roughly $385 billion in spending on energy and climate change, according to the nonpartisan Committee for a Responsible Budget. There is $100 billion of new spending for health care in the form of expanded Obamacare subsidies and expanded prescription drug and vaccine coverage.

These new spending measures, which come on top of the already bloated government budget, will operate to increase aggregate demand in the economy. They may increase the supply of some goods and services but will not likely increase aggregate supply. Rather, the subsidies for green energy and clean manufacturing tax credits will shift supply sources without leading to a net increase.

Sen. Joe Manchin, D-W.Va. (J. Scott Applewhite, File/AP)

Senate Majority Leader Chuck Schumer (D-NY) speaks to reporters during a news conference at the U.S. Capitol on July 28, 2022, in Washington, DC. (Drew Angerer/Getty Images)

The bill includes federal EV tax credit reform and is going to give back access to the incentive for Tesla and GM EV buyers. One section of the bill for “commercial clean vehicles” that is expected to apply to electric trucks offers up to $40,000 in incentives for commercial clean vehicles of more than 14,000 lbs. The section reads:

The amount determined under this subsection with respect to any qualified commercial clean vehicle shall not exceed— ‘‘(A) in the case of a vehicle which has a gross vehicle weight rating of less than 14,000 pounds, $7,500, and (B) in the case of a vehicle not described in subparagraph (A), $40,000.

This is likely aimed at encouraging the sales of electric semi-trucks like the Tesla Semi — which is yet to go into production despite being hyped by Musk since 2017 — Daimler’s Freightliner Cascadia, and fuel cell hydrogen-electric trucks, such as Nikola Motors’ vehicles

Read more at Electrek here.

Edited August 1, 2022 by Ron Wagner

[Ecocharger + 1,474]

19 hours ago, notsonice said:

????? what are you babbling about???? I can tell you never had any schooling in thermodynamics or reaction chemistry or anything in science on any level. Posting a bunch of random garbage is all you are capable of. 

Stay in school junior you will pass the 6th grade one of these years....

 

Earth's lower atmosphere is expanding due to climate change

By Ben Turner published November 12, 2021

Planes may have to fly higher to avoid turbulence.

•  

 

The lowest part of Earth's atmosphere has been rising by 164 feet (50 meters) per decade since 1980. (Image credit: Roman Becker/EyeEm via Getty Images.)

 

 

 

Earth's atmosphere is rising because of climate change, a new study shows.

 

 

Weather balloon measurements, taken in the Northern Hemisphere over the past 40 years, reveal that the lowest layer of Earth's atmosphere — called the troposphere — has been expanding upward at a rate of roughly 164 feet (50 meters) per decade, and climate change is the cause, according to findings published Nov.r 5 in the journal Science Advances(opens in new tab). 

 

 

"This is an unambiguous sign of changing atmospheric structure," study co-author Bill Randel, a scientist at the National Center for Atmospheric Research in Boulder, Colorado, said in a statement(opens in new tab). "These results provide independent confirmation, in addition to all the other evidence of climate change, that greenhouse gases are altering our atmosphere."

The troposphere is the layer of the atmosphere we live and breathe in. It extends from sea level to a height ranging from 4.3 miles (7 kilometers) above the poles to 12.4 miles (20 km) over the tropics. As the layer of atmosphere that contains the most heat and moisture, it's also where a lot of atmospheric weather occurs.

 

Air in the atmosphere expands when it's hot and contracts when it's cold, so the troposphere's upper boundary, called the tropopause, naturally shrinks and expands with the changing of the seasons. 

 

But by analyzing atmospheric data such as pressure, temperature and humidity — taken between 20 and 80 degrees north latitude — and pairing it with GPS data, researchers showed that as increasing quantities of greenhouse gases trap more heat in the atmosphere, the tropopause is rising higher than ever before. 

What's more, the rate of the rise seems to be increasing. According to the study, while the tropopause rose roughly 164 feet (50 m) per decade between 1980 and 2000, that increase rose to 174 feet (53.3 m) per decade between 2001 and 2020. Taking into account natural events in their region of study, such as two volcanic eruptions in the 1980s and the periodic Pacific warming El Niño in the late 1990s, the researchers estimated that human activity nonetheless accounted for 80% of the total increase in atmospheric height.

Climate change isn't the only human-made driver of the rising tropopause. The stratosphere — the layer above the troposphere — is also shrinking, thanks to the past release of ozone-depleting gases. These gases shrank the stratosphere through the destruction of the stratospheric ozone layer, although restrictions against their emission in more recent years have caused the atmospheric concentrations of these gases to decline.

 

Scientists are still not sure how a rising tropopause will influence the climate or weather, although it could force planes to fly higher in the atmosphere to avoid turbulence.

 

"The study captures two important ways that humans are changing the atmosphere," Randel said. "The height of the tropopause is being increasingly affected by emissions of greenhouse gases even as society has successfully stabilized conditions in the stratosphere by restricting ozone-destroying chemicals."

 

Originally published on Live Science.

 

Ben Turner 

•  

 

"Scientists are still not sure how a rising tropopause will influence the climate or weather, although it could force planes to fly higher in the atmosphere to avoid turbulence."

Another non-research blurb.

Read before you jump, buddy.

 

[Ecocharger + 1,474]

On 7/30/2022 at 11:30 PM, Boat said:

The demand for fossil fuels dropped by a large amount due to Covid. That demand has been slowly returning but supply chains that were disrupted have yet to get back to normal. I would not call that robust demand. High prices are more because of Covid disruption and a war and less to do with setting consumption records. Throw in shipping and handling war related price hikes. But yea, gasoline and diesel are in demand but not like you say. Get back to pre Covid supply and let’s look at prices. 

Read the numbers, there is no demand destruction due to high gasoline prices. Possibly today we see some concern about world recession, but that is far from clear. Chinese data is slow to emerge.

[Ecocharger + 1,474]

23 hours ago, TailingsPond said:

Wants may have little to do with it. A huge portion of gas consumption is just commuting to work.  Traffic jam joy.

Do you think people want to pay taxes? After all it is a standard factor in their lives.

Your "logic" is flawed, consumption or occurrence does not equate with desire.

Cancer, household debt, and obesity are on the rise! 

You miss the point, which is how stable is gasoline demand in response to large price increases in gasoline.

 

The answer is that demand is stable and the demand elasticity of  gasoline with respect to price is low.

You never studied economics, right?

Edited August 1, 2022 by Ecocharger

[notsonice + 1,255]

3 hours ago, Ecocharger said:

Read the numbers, there is no demand destruction due to high gasoline prices. Possibly today we see some concern about world recession, but that is far from clear. Chinese data is slow to emerge.

still having problems reading the chart???? 2022 gasoline demand in the US off by 800,000 barrels a day from last year and off by the 5 year average by a bit more can we call it 900,000 ??? or do you need help reading charts???? I will let The big E from Calgary explain the chart to you.

 

[Boat + 1,324]

9 hours ago, Ecocharger said:

Read the numbers, there is no demand destruction due to high gasoline prices. Possibly today we see some concern about world recession, but that is far from clear. Chinese data is slow to emerge.

Covid or war they both contribute to higher fuel prices. Demand has yet to equal precovid levels. Errrrrrrrr, what don’t you get. Oil typically grows at 1.5 mbpd since 1950. It’s just the last decade or so efficiency and new transportation choices have lowered that trend. But the world is still breeding. Why isn’t FF demand rising? Reread. 

[Boat + 1,324]

9 hours ago, Ecocharger said:

You miss the point, which is how stable is gasoline demand in response to large price increases in gasoline.

 

The answer is that demand is stable and the demand elasticity of  gasoline with respect to price is low.

You never studied economics, right?

With a growing population FF should grow in a robust way every year. Eh? I guess no expansion proves the lack of elasticity of demand. Buy hey, gasoline and diesel give way to a little more nat gas and a lot of renewables.

[Boat + 1,324]

On 7/31/2022 at 10:40 PM, Ron Wagner said:

https://www.breitbart.com/tech/2022/07/30/green-pork-electric-trucks-from-tesla-and-others-to-get-40000-in-incentives-under-inflation-reduction-act/

 

Green Pork: Electric Trucks from Tesla and Others to Get $40,000 in Incentives Under Inflation Reduction Act

60 SUZANNE CORDEIRO/AFP/Getty

LUCAS NOLAN

30 Jul 202271

3:09

Electric trucks, such as Tesla’s vaporware Tesla Semi which has yet to enter production, will receive up to $40,000 in incentives per vehicle thanks to the newly proposed “inflation reduction Act of 2022.”

Electrek reports that thanks to the Inflation Reduction Act of 2022, electric trucks such as the Tesla Semi or Lion Electric’s truck will receive up to $40,000 in incentives. The act was announced in the Senate this week, Breitbart News’ John Carney reported on the bill writing:

The supposedly game-changing legislative breakthrough that brought together Sen. Joe Manchin (D-WV) and Senate Majority Leader Chuck Schumer (D-NY) after months of negotiations over Build Back Better failed is cynically branded as a measure to counter the budget deficit. This makes sense in a crass political way because inflation is the number one issue facing American families and is plunging the economy into a stagflationary recession.

The first hint that this is not going to be an inflation reducing piece of legislation is that the bill includes a massive expansion of government spending. There is roughly $385 billion in spending on energy and climate change, according to the nonpartisan Committee for a Responsible Budget. There is $100 billion of new spending for health care in the form of expanded Obamacare subsidies and expanded prescription drug and vaccine coverage.

These new spending measures, which come on top of the already bloated government budget, will operate to increase aggregate demand in the economy. They may increase the supply of some goods and services but will not likely increase aggregate supply. Rather, the subsidies for green energy and clean manufacturing tax credits will shift supply sources without leading to a net increase.

Sen. Joe Manchin, D-W.Va. (J. Scott Applewhite, File/AP)

Senate Majority Leader Chuck Schumer (D-NY) speaks to reporters during a news conference at the U.S. Capitol on July 28, 2022, in Washington, DC. (Drew Angerer/Getty Images)

The bill includes federal EV tax credit reform and is going to give back access to the incentive for Tesla and GM EV buyers. One section of the bill for “commercial clean vehicles” that is expected to apply to electric trucks offers up to $40,000 in incentives for commercial clean vehicles of more than 14,000 lbs. The section reads:

The amount determined under this subsection with respect to any qualified commercial clean vehicle shall not exceed— ‘‘(A) in the case of a vehicle which has a gross vehicle weight rating of less than 14,000 pounds, $7,500, and (B) in the case of a vehicle not described in subparagraph (A), $40,000.

This is likely aimed at encouraging the sales of electric semi-trucks like the Tesla Semi — which is yet to go into production despite being hyped by Musk since 2017 — Daimler’s Freightliner Cascadia, and fuel cell hydrogen-electric trucks, such as Nikola Motors’ vehicles

Read more at Electrek here.

Handouts for the rich. Yes, Biden is part Republican. Handouts to rich as the common denominator. 

[Ecocharger + 1,474]

7 hours ago, notsonice said:

still having problems reading the chart???? 2022 gasoline demand in the US off by 800,000 barrels a day from last year and off by the 5 year average by a bit more can we call it 900,000 ??? or do you need help reading charts???? I will let The big E from Calgary explain the chart to you.

 

You still having trouble reading this chart? These are not gasoline demand numbers, but gasoline supply numbers, as I tried to educate you about above...still not getting through.

The gasoline demand numbers are well above the supply numbers, causing upward pressure on gasoline prices.

Now, why don't you just confess that you never studied economics. Clear your conscience.

[Ecocharger + 1,474]

51 minutes ago, Boat said:

Covid or war they both contribute to higher fuel prices. Demand has yet to equal precovid levels. Errrrrrrrr, what don’t you get. Oil typically grows at 1.5 mbpd since 1950. It’s just the last decade or so efficiency and new transportation choices have lowered that trend. But the world is still breeding. Why isn’t FF demand rising? Reread. 

Reread what?  Your friend Notsobright has been misreading the title of this chart. You too?

[Ecocharger + 1,474]

47 minutes ago, Boat said:

Handouts for the rich. Yes, Biden is part Republican. Handouts to rich as the common denominator. 

Biden is Republican? I guess that explains why he is messing up the economy, so that the opposition party will sweep the upcoming elections.

Biden a closet Republican? Maybe....

Edited August 2, 2022 by Ecocharger

[Jay McKinsey + 1,490]

8 minutes ago, Ecocharger said:

You still having trouble reading this chart? These are not gasoline demand numbers, but gasoline supply numbers, as I tried to educate you about above...still not getting through.

The gasoline demand numbers are well above the supply numbers, causing upward pressure on gasoline prices.

Now, why don't you just confess that you never studied economics. Clear your conscience.

The EIA considers their "product supplied" number to represent Demand. Any real energy economist knows this.

Products Supplied

Approximately represents consumption of petroleum products because it measures the disappearance of these products from primary sources, i.e., refineries, natural gas processing plants, blending plants, pipelines, and bulk terminals. https://www.eia.gov/dnav/pet/TblDefs/pet_cons_wpsup_tbldef2.asp

Edited August 2, 2022 by Jay McKinsey

[Ecocharger + 1,474]

3 minutes ago, Jay McKinsey said:

The EIA considers their "product supplied" number to represent Demand.

Products Supplied

Approximately represents consumption of petroleum products because it measures the disappearance of these products from primary sources, i.e., refineries, natural gas processing plants, blending plants, pipelines, and bulk terminals. https://www.eia.gov/dnav/pet/TblDefs/pet_cons_wpsup_tbldef2.asp

Those are not gasoline sales numbers, but stock numbers.

Demand strength in economics terms means actual sales. In this case the gasoline sales numbers exceed the supply numbers.

When that happens, prices go up.

Edited August 2, 2022 by Ecocharger

[Jay McKinsey + 1,490]

Just now, Ecocharger said:

Those are not gasoline sales numbers, but stock numbers.

Demand in economics terms means sales. In this case the gasoline sales numbers exceed the supply numbers.

No, those are gasoline sales numbers. Try reading the definition I gave you. It is not possible for sales to exceed supply unless people were paying for gas days ahead of receiving it.

[Ecocharger + 1,474]

1 minute ago, Jay McKinsey said:

No, those are gasoline sales numbers. Try reading the definition I gave you. It is not possible for sales to exceed supply unless people were paying for gas days ahead of receiving it.

Read your own list....these are not gasoline sales to consumers but supply figures, which explains why they are below the actual consumers sales figures I gave earlier.

When that happens, inventories decline and prices increase.

[Jay McKinsey + 1,490]

37 minutes ago, Ecocharger said:

Read your own list....these are not gasoline sales to consumers but supply figures, which explains why they are below the actual consumers sales figures I gave earlier.

When that happens, inventories decline and prices increase.

They are gasoline sales to retailers who sell it to consumers the following week. Product supplied is the official EIA number for Demand. This isn't open to your opinion.

The U.S. Energy Information Administration (EIA) estimates the decline in petroleum product demand by examining the changes in total product supplied, EIA’s proxy for consumption. 

https://www.eia.gov/todayinenergy/detail.php?id=43455

Total products supplied over the last four-week period averaged 20.0 million barrels a day, down by 2.9% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 8.8 million barrels a day, down by 7.1% from the same period last year. Distillate fuel product supplied averaged 3.8 million barrels a day over the past four weeks, down by 0.6% from the same period last year https://www.eia.gov/petroleum/supply/weekly/pdf/highlights.pdf

[specinho + 470]

On 8/1/2022 at 7:10 AM, notsonice said:

????? what are you babbling about???? I can tell you never had any schooling in thermodynamics or reaction chemistry or anything in science on any level. Posting a bunch of random garbage is all you are capable of. 

Stay in school junior you will pass the 6th grade one of these years....

 

Earth's lower atmosphere is expanding due to climate change

By Ben Turner published November 12, 2021

Planes may have to fly higher to avoid turbulence.

•  

 

The lowest part of Earth's atmosphere has been rising by 164 feet (50 meters) per decade since 1980. (Image credit: Roman Becker/EyeEm via Getty Images.)

 

 

 

Earth's atmosphere is rising because of climate change, a new study shows.

 

 

Weather balloon measurements, taken in the Northern Hemisphere over the past 40 years, reveal that the lowest layer of Earth's atmosphere — called the troposphere — has been expanding upward at a rate of roughly 164 feet (50 meters) per decade, and climate change is the cause, according to findings published Nov.r 5 in the journal Science Advances(opens in new tab). 

 

 

"This is an unambiguous sign of changing atmospheric structure," study co-author Bill Randel, a scientist at the National Center for Atmospheric Research in Boulder, Colorado, said in a statement(opens in new tab). "These results provide independent confirmation, in addition to all the other evidence of climate change, that greenhouse gases are altering our atmosphere."

The troposphere is the layer of the atmosphere we live and breathe in. It extends from sea level to a height ranging from 4.3 miles (7 kilometers) above the poles to 12.4 miles (20 km) over the tropics. As the layer of atmosphere that contains the most heat and moisture, it's also where a lot of atmospheric weather occurs.

 

Air in the atmosphere expands when it's hot and contracts when it's cold, so the troposphere's upper boundary, called the tropopause, naturally shrinks and expands with the changing of the seasons.

 

But by analyzing atmospheric data such as pressure, temperature and humidity — taken between 20 and 80 degrees north latitude — and pairing it with GPS data, researchers showed that as increasing quantities of greenhouse gases trap more heat in the atmosphere, the tropopause is rising higher than ever before. 

What's more, the rate of the rise seems to be increasing. According to the study, while the tropopause rose roughly 164 feet (50 m) per decade between 1980 and 2000, that increase rose to 174 feet (53.3 m) per decade between 2001 and 2020. Taking into account natural events in their region of study, such as two volcanic eruptions in the 1980s and the periodic Pacific warming El Niño in the late 1990s, the researchers estimated that human activity nonetheless accounted for 80% of the total increase in atmospheric height.

Climate change isn't the only human-made driver of the rising tropopause. The stratosphere — the layer above the troposphere — is also shrinking, thanks to the past release of ozone-depleting gases. These gases shrank the stratosphere through the destruction of the stratospheric ozone layer, although restrictions against their emission in more recent years have caused the atmospheric concentrations of these gases to decline.

 

Scientists are still not sure how a rising tropopause will influence the climate or weather, although it could force planes to fly higher in the atmosphere to avoid turbulence.

 

"The study captures two important ways that humans are changing the atmosphere," Randel said. "The height of the tropopause is being increasingly affected by emissions of greenhouse gases even as society has successfully stabilized conditions in the stratosphere by restricting ozone-destroying chemicals."

 

Originally published on Live Science.

 

Ben Turner 

•  

 

there is a reason why you should not skip the basic class because you were ASSUMED  a genius, and were allowed to jump your grades and classes, so that you can finish school or graduate earlier, yes? 

 

 

if you reread the highlighted parts from the article you have posted, it says "air expands when hot, shrinks when cold". Not too sure if you know air = gas? If affirmative, how much energy do you think needed to expand a gas volume? 

When you are so sure gases can TRAP heat, you must mean a gas is able to sustain a temperature for a long time. Try this experiment:

1. heat up gas in a tightly screwed 500ml glass jar to 40'C.

2. Measure the temperature again after 4 hours..........

3. would you still get 40'C after 4 hours or the gas has cooled by its own?

If you do not get 40'C but temperature of your surrounding e.g. 15'C, it means, it does not keep/ trap heat between gas molecules or atoms.

 

Try the same experiment with water........... and metal in an insulator.

 

 

 

 

 

 

Edited August 2, 2022 by specinho

[notsonice + 1,255]

42 minutes ago, specinho said:

there is a reason why you should not skip the basic class because you were ASSUMED  a genius, and were allowed to jump your grades and classes, so that you can finish school or graduate earlier, yes? 

 

 

if you reread the highlighted parts from the article you have posted, it says "air expands when hot, shrinks when cold". Not too sure if you know air = gas? If affirmative, how much energy do you think needed to expand a gas volume? 

When you are so sure gases can TRAP heat, you must mean a gas is able to sustain a temperature for a long time. Try this experiment:

1. heat up gas in a tightly screwed 500ml glass jar to 40'C.

2. Measure the temperature again after 4 hours..........

3. would you still get 40'C after 4 hours or the gas has cooled by its own?

If you do not get 40'C but temperature of your surrounding e.g. 15'C, it means, it does not keep/ trap heat between gas molecules or atoms.

 

Try the same experiment with water........... and metal in an insulator.

 

 

 

 

 

 

you are still babbling.......

How did you do in Thermodynamics ??? I take you have no training in advanced chemistry or thermo ??? any material sciences???? your posts are nothing but incoherent babble

[notsonice + 1,255]

12 hours ago, Jay McKinsey said:

They are gasoline sales to retailers who sell it to consumers the following week. Product supplied is the official EIA number for Demand. This isn't open to your opinion.

The U.S. Energy Information Administration (EIA) estimates the decline in petroleum product demand by examining the changes in total product supplied, EIA’s proxy for consumption. 

https://www.eia.gov/todayinenergy/detail.php?id=43455

Total products supplied over the last four-week period averaged 20.0 million barrels a day, down by 2.9% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 8.8 million barrels a day, down by 7.1% from the same period last year. Distillate fuel product supplied averaged 3.8 million barrels a day over the past four weeks, down by 0.6% from the same period last year https://www.eia.gov/petroleum/supply/weekly/pdf/highlights.pdf

Jay

 

the ignorant will ignore the facts and keep babbling nonsense.....

the statement ........A FACT.......Over the past four weeks, motor gasoline product supplied averaged 8.8 million barrels a day, down by 7.1% from the same period last year...does not work for their argument so the will ignore it

 

Keep up the good work....... your posts are appreciated

[notsonice + 1,255]

demand destruction is the cause

“Refinery production increased throughout June in response to high crack spreads. At the same time, gasoline consumption decreased below 2021 levels beginning in April,” according to the EIA’s short-term energy outlook.

 

July 25, 20223:20 AM MDTLast Updated 8 days ago

•  

Global gasoline cracks collapse, blow to refiners' profits

 

By Mohi Narayan

, Laura Sanicola and Shadia Nasralla

A sudden crash in global gasoline prices in the past two weeks has dented refiners’ profits, pushing up inventories in key trading hubs around the world while looming exports from China and India also add to pressure on growing stockpiles.

Refiners will be forced to cut gasoline output to safeguard themselves against losses and switch to producing more profitable fuels, traders say, but summer demand is also being hurt by high pump prices in the United States and Europe, and by instability and easing seasonal demand in some parts of Asia.

Asia’s top fuel exporter Taiwan’s Formosa Petrochemical Corp could reduce operating rates at their residue fluid catalytic cracking (RFCC) units, which are now running at full capacity, by 5 per cent in the coming weeks.

Asian gasoline margins have plunged more than 102 per cent in July to a discount of 14 cents a barrel to Brent crude after hitting a record at a premium of $38.05 a barrel in June, Refinitiv data showed. They are also at the lowest for this time of the year since at least 2000.

That has depressed Asian refining margins to 88 cents a barrel over Dubai crude on Monday, tumbling from a record $30.49 in June.

Chinese state refiners are expected to raise refinery runs in August-September and increase exports to lower high domestic stocks after receiving new quotas, industry sources said.

One of the sources estimated national crude throughput could claw back to 14 million barrels per day or higher, after staying under that level for most of the past 12 months partly because of Covid-19 lockdowns.

First-half July gasoline imports into Asia dropped 240,000 tonnes from second-half June levels led by Indonesian declines, Asia's largest gasoline importer, FGE said in a note.

FGE expects Asian gasoline demand, excluding China, to improve only marginally between July and September, averaging 80,000 bpd lower than levels seen during the same period in 2019, as high retail prices weigh on demand.

In the United States, gasoline products that are derivatives of gasoline — a proxy for demand — was about 8.5 million bpd, or about 7.6 per cent lower than the same time a year ago.

“Refinery production increased throughout June in response to high crack spreads. At the same time, gasoline consumption decreased below 2021 levels beginning in April,” according to the EIA’s short-term energy outlook.

The so-called 321 crack spread , a proxy for refining margins, have fallen to the lowest in more than three months at $37.57 a barrel last week, down from historical highs of nearly $60 in June but still well above seasonal levels.

Meanwhile, gasoline spot prices in New York Harbor have fallen to $3.35 in mid-July from $4.43 per gallon in June, traders said.

Inventories in Europe have also increased reflecting the trend. Northwest European gasoline barge refining margins were around $10 a barrel on Friday, down from a record $56 in early June.

Citi analysts, however, expect refining margins to strengthen again into the fourth quarter due to a demand boost from potential gas-to-oil switching in Europe and further reduction of Russian diesel exports from European Union sanctions.

SHRINKING DEMAND

• Asian gasoline margins have plunged more than 102% in July
• Northwest European refining margins were around $10 a barrel on Friday, down from a record $56 in early June
• Refiners will be forced to cut gasoline output to safeguard themselves against losses

[Ecocharger + 1,474]

On 8/2/2022 at 2:04 AM, Jay McKinsey said:

They are gasoline sales to retailers who sell it to consumers the following week. Product supplied is the official EIA number for Demand. This isn't open to your opinion.

The U.S. Energy Information Administration (EIA) estimates the decline in petroleum product demand by examining the changes in total product supplied, EIA’s proxy for consumption. 

https://www.eia.gov/todayinenergy/detail.php?id=43455

Total products supplied over the last four-week period averaged 20.0 million barrels a day, down by 2.9% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 8.8 million barrels a day, down by 7.1% from the same period last year. Distillate fuel product supplied averaged 3.8 million barrels a day over the past four weeks, down by 0.6% from the same period last year https://www.eia.gov/petroleum/supply/weekly/pdf/highlights.pdf

And oil demand by consumers rose thus creating an upward pressure on prices.

You have to look at finqal demand to understand the market.

[Ecocharger + 1,474]

Demand for diesel is increasing in spite of the Biden recession. Limited oil production is squeezing prices higher.

https://oilprice.com/Energy/Energy-General/The-Diesel-Crisis-Is-Far-From-Over.html

"Reuters' John Kemp wrote in his latest oil-buying column that hedge funds and other institutional traders had bought diesel contracts at the fastest rate since November 2020 last week, adding the equivalent of 9 million barrels to their holdings.

Meanwhile, Bloomberg reported that demand for U.S. diesel specifically had hit the highest level in five years, and it may rise even further as we head into winter. U.S. diesel exports reached an all-time high last month, with South America and Europe taking in most of these exports.

At the same time, India has imposed limits on diesel exports to ensure there is enough for the domestic market. On top of that, Russian diesel is being shunned by European buyers because of sanctions, even though the fuel embargo against Russia is only coming into effect at the end of the year.

The diesel shortage problem is not exactly a new one, but it is now garnering plenty of attention.

"Governments have a very clear understanding that there is a clear link between diesel and GDP, because almost everything that goes into and out of a factory goes using diesel," said a senior executive from the European Petroleum Refiners Association in March, soon after the EU began slapping sanctions on Russia."

Edited August 3, 2022 by Ecocharger

[Ecocharger + 1,474]

19 hours ago, notsonice said:

you are still babbling.......

How did you do in Thermodynamics ??? I take you have no training in advanced chemistry or thermo ??? any material sciences???? your posts are nothing but incoherent babble

Says the blabber who skipped his economics training.

[Ecocharger + 1,474]

There is no sign of demand destruction.

As I pointed out above, Jay's data was a reference to inventories, not market demand by consumers. Some people are slow to understand economic data.

https://oilprice.com/Energy/Crude-Oil/US-Refiners-Havent-Seen-Fuel-Demand-Destruction.html

"U.S. refiners say there is no indication across their channels that America's fuel demand is weakening, contrary to recent data about gasoline consumption.

The weekly inventory reports from the EIA at the beginning of July pointed to faltering demand after nationwide gasoline prices hit an average of $5 a gallon in the middle of June. During earnings calls this week, however, some of the largest U.S. refiners said they hadn't seen any signs of demand destruction.   

"Through our wholesale channel, there's really no indication of any demand destruction. In June, we actually set sales records. We sold 911,000 barrels a day in the month of June, which surpassed our previous record in August of '18 where we did 904,000 barrels a day," Gary Simmons, Executive Vice President and Chief Commercial Officer at Valero Energy, said on the conference call on Thursday.

"We read a lot about demand destruction, mobility data showing in that range of 3% to 5% demand destruction. Again, we're not seeing it in our system. We did see a bit of a lull in the first couple of weeks of July, but our seven-day averages now are back to kind of that June level, with gasoline at pre-pandemic levels and diesel continuing to trend above pre-pandemic levels," Simmons added.

Tom Nimbley, chief executive at PBF Energy, said, "We're at basically the same levels we've been for the last 90 days," commenting on demand on the company's earnings call.

The latest reporting week in EIA data showed that gasoline demand increased from 8.52 million barrels per day (bpd) to 9.25 million bpd last week, AAA said on Thursday. While the national average gasoline price has dropped since Monday to $4.255 a gallon as of Friday, the rebounding demand and the latest decline in gasoline inventories "could pressure pump prices and slow price decreases if the trend holds," AAA noted.

According to data from fuel-savings app GasBuddy, Sunday-to-Wednesday U.S. gasoline demand was up 1.04% from last week, and was the highest of any Sunday-Wednesday period so far this year, exceeding the week ahead of July 4, Patrick De Haan, head of petroleum analysis for GasBuddy, said on Thursday."

Edited August 3, 2022 by Ecocharger

[Ecocharger + 1,474]

The demand for gasoline and diesel is robust in spite of the Biden recession. The EIA reports increased gasoline demand by consumers and a decline in inventories, which is bullish for gasoline prices.

https://gasprices.aaa.com/national-average-falls-but-rebounding-gas-demand-and-crude-prices-may-change-its-course

"According to new data from the Energy Information Administration (EIA), gas demand increased from 8.52 million b/d to 9.25 million b/d last week. The estimated rate is 80,000 b/d lower than last year, but it could pressure pump prices and slow price decreases if the trend holds. Additionally, total domestic gasoline stocks decreased by 3.3 million bbl to 225.1 million bbl, signaling that higher demand reduced inventory last week. "

Edited August 3, 2022 by Ecocharger