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An unconfirmed tweet about Freeport LNG is upending gas markets

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Re: An unconfirmed tweet about Freeport LNG is upending gas markets

#171

Post by niij »

thaumasiotes wrote: post #129
seiferteric wrote: post #101

Earlier quoted context omitted.

I always thought that the shortest day shouldn't be the first day of winter, but rather the middle, so then winter would begin in late October, and summer would begin in late April.

> I always thought that the shortest day shouldn't be the first day of winter, but rather the middle That's not just you. Every traditional calendar says the same thing. As far as I can tell, the idea that winter starts on the solstice, when it's been winter for more than a month (unless you're in the tropics), is an invention of Hallmark or some other calendar manufacturer. It is based on nothing. I tried reading Po…

There was indeed a calendar change just 4 years after the 1748 almanac you were reading. In 1752 the American colonies switched from the Julian to the Gregorian calendar. That leaped 11 days ahead.

https://en.wikipedia.org/wiki/Adoption_of_the_Gregorian_cale...

Re: An unconfirmed tweet about Freeport LNG is upending gas markets

#172

Post by spywaregorilla »

nuclearnice3 wrote: post #166
spywaregorilla wrote: post #165

Earlier quoted context omitted.

That is not how that works. That would reduce the quantity demanded, not the demand. You're describing a supply decrease, which will raise the price. The mechanic here is the decline of exports to europe making the supply of gas available to us go up, meaning the price for gas in the US will go down.

Reducing the quantity demanded is reducing the demand. I don't understand how you reduce "quantity demanded" but not "demand." MAybe you can clarify. I am describing a demand decrease. When operational, this plant consumes US gas. It is a demander of gas. If it's staying closed, less demand for US gas. > The mechanic here is the decline of exports to europe making the supply of gas available to us go up, meaning the…

> Reducing the quantity demanded is reducing the demand.

> I don't understand how you reduce "quantity demanded" but not "demand." MAybe you can clarify.

As much as I dislike appeals to econ 101, this is a basic concept of econ 101.

Demand is the general willingness of people to buy something. If the price goes up they will be less. If the price goes down they will by more. Demand is how much they want to by as a function of the price.

Quantity demanded is how much they're going to purchase given a specific price.

A change in demand implies people are no longer going to buy the same amount for the same distribution of prices. e.g. perhaps a new iphone comes out and people aren't willing to buy the older version for the original price.

If the price goes up due to supply shortages or down because of supply increases, the quantity demanded will change but demand will not. The price will also change.

https://keydifferences.com/difference-between-demand-and-qua...

You are describing supply side effects. We're arriving at the same place, but your explanation of the economic story is not correct.

Re: An unconfirmed tweet about Freeport LNG is upending gas markets

#173

Post by [deleted] »

spywaregorilla wrote: post #172
nuclearnice3 wrote: post #166

Earlier quoted context omitted.

Reducing the quantity demanded is reducing the demand. I don't understand how you reduce "quantity demanded" but not "demand." MAybe you can clarify. I am describing a demand decrease. When operational, this plant consumes US gas. It is a demander of gas. If it's staying closed, less demand for US gas. > The mechanic here is the decline of exports to europe making the supply of gas available to us go up, meaning the…

> Reducing the quantity demanded is reducing the demand. > I don't understand how you reduce "quantity demanded" but not "demand." MAybe you can clarify. As much as I dislike appeals to econ 101, this is a basic concept of econ 101. Demand is the general willingness of people to buy something. If the price goes up they will be less. If the price goes down they will by more. Demand is how much they want to by as a fun…

[deleted]

Re: An unconfirmed tweet about Freeport LNG is upending gas markets

#174

Post by II2II »

colechristensen wrote: post #91
II2II wrote: post #87

Earlier quoted context omitted.

In a sense, the astronomical definition of winter has a lot more meaning in a connected world. I grew up in a part of Canada where the (colloquial) winter started at the end of October and ended at the end of March. I now live in a part of the country where it starts in late December and runs until the end of April. If you're trying to convey time by saying that something happened last winter, different people are go…

Different places have different seasons. Some places have monsoon season, parts of New England have mud season. Referring to a time period based on what the weather is like for a significant portion of the year makes sense when that is a relevant part of the comparison. Winter official definition is basically “astronomical Q1” which honestly isn’t all that useful in most cases. (It’s a bit stupid that our months, maj…

With respect to the astronomical definition of the seasons, they line up reasonably well where I currently live (coastal) but not with where I grew up (interior). Likewise, holidays probably lined with the seasons at one point in their history. What we are likely seeing is the gradual shift between natural phenomena and a human construct, i.e. the calendar. We carry a lot of historical baggage with us, even if we rarely think of it.

Re: An unconfirmed tweet about Freeport LNG is upending gas markets

#175

Post by nuclearnice3 »

spywaregorilla wrote: post #172
nuclearnice3 wrote: post #166

Earlier quoted context omitted.

Reducing the quantity demanded is reducing the demand. I don't understand how you reduce "quantity demanded" but not "demand." MAybe you can clarify. I am describing a demand decrease. When operational, this plant consumes US gas. It is a demander of gas. If it's staying closed, less demand for US gas. > The mechanic here is the decline of exports to europe making the supply of gas available to us go up, meaning the…

> Reducing the quantity demanded is reducing the demand. > I don't understand how you reduce "quantity demanded" but not "demand." MAybe you can clarify. As much as I dislike appeals to econ 101, this is a basic concept of econ 101. Demand is the general willingness of people to buy something. If the price goes up they will be less. If the price goes down they will by more. Demand is how much they want to by as a fun…

This is very clear and helpful. Thank you.
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