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May 7th - According to the China State Railway Group Co., Ltd., during the May Day holiday transportation period from April 29th to May 6th, the national railway system transported a total of 159 million passengers, an increase of 5.2% year-on-year. Among them, 24.844 million passengers were transported on May 1st, setting a new record for single-day passenger volume. The national railway system also transported a total of 93.5 million tons of freight, an increase of 4.5% year-on-year. On May 2nd, 202,400 wagons were loaded, setting a new record for single-day freight loading on the national railway system.On May 7th, the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) held an enlarged meeting on May 6th. The meeting emphasized the need to adhere to a problem-oriented approach, accurately grasp the direction and focus of basic research in central enterprises, and strengthen basic research systematically and systematically based on national needs. It stressed guiding central enterprises to focus on applied basic research, leveraging their industrial and demand-driven advantages to promote the integration of the entire "science-technology-engineering-industry" chain. The meeting also emphasized strengthening overall planning, using the origin of original technologies as a starting point, and continuously exerting efforts in solving fundamental scientific problems, deploying strategic frontier technologies, and strengthening the supply of common technologies. Furthermore, the meeting stressed the importance of effectively cultivating high-level talent, increasing R&D investment, and building high-level platforms for basic research in central enterprises to drive the overall improvement of their basic research capabilities. The meeting called for pooling resources from all parties to promote stronger basic research in central enterprises with greater力度 and more concrete measures, strengthening collaboration with relevant departments, promoting the implementation of policies for investors, further deepening the reform of state-owned assets and enterprises, encouraging enterprises to be bold in innovation, and further stimulating the intrinsic motivation of researchers to engage in basic research, so as to make due contributions to achieving high-level scientific and technological self-reliance and building a strong science and technology nation.The yield on Japans two-year government bonds fell 1.0 basis point to 1.370%.May 7th Futures News: Economies.com analysts latest view: Brent crude oil futures have continued to decline in recent intraday trading. While the market had previously escaped oversold conditions, the Relative Strength Index (RSI) has begun to show a negative crossover signal. This opens up room for further declines in the short term, especially given that prices have remained below the 50-day moving average (EMA50) and previously broke below the short-term uptrend line; downward pressure remains.May 7th Futures News: Economies.com analysts latest view: WTI crude oil futures prices edged lower in the latest intraday trading session. The oversold condition of the Relative Strength Index (RSI) has eased, but the market still has room for further declines in the short term. Selling pressure remains dominant after prices broke below an important short-term uptrend line. Crude oil prices continue to trade below the 50-day moving average, which now acts as dynamic resistance, limiting any potential rebound. Unless oil prices regain their footing above key technical levels and resume upward momentum, these factors will reinforce the current bearish outlook.

The Economy And Weather Will Improve in 2022, Increasing U.S. Power Use

Aria Thomas

Nov 09, 2022 15:42

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According to the U.S. Energy Information Administration's (EIA) Short-Term Energy Outlook (STEO) released on Tuesday, the nation's power consumption will hit a record high in 2022 owing to increased economic activity and higher summer temperatures.


As temperatures moderate, the EIA forecasts that energy demand would decline from 4,036 billion kWh in 2022 to 3,990 billion kWh in 2023.


Contrast this with a demand low of 3,856 billion kWh in 2020 due to the coronavirus pandemic and a record high of 4,003 billion kWh in 2018.


The EIA forecasts that residential sales of electricity will climb to 1,509 billion kWh in 2022, commercial sales will rise to 1,371 billion kWh as more people return to the workforce, and industrial sales will reach 1,010 billion kWh.


This compares to residential consumption records of 1,477 billion kWh in 2021, commercial consumption records of 1,382 billion kWh in 2018, and industrial consumption records of 1,050 billion kWh in 2000.


The EIA predicts that the share of natural gas to power generation will rise from 37% in 2021 to 38% in 2022, before decreasing to 36% in 2023. Coal's share will decrease from 23% in 2021 to 20% in 2022 and 19% in 2023 as renewable energy output grows.


The generation of renewable energy will grow from 20% in 2021 to 22% in 2022 to 24% in 2023. The proportion of nuclear energy will fall to 19% in 2022, down from 20% in 2021, before rebounding to 20% in 2023.


The EIA estimated that in 2022, residential gas sales would reach 13.58 billion cubic feet per day (bcfd), commercial sales would reach 9.69 bcfd, industrial sales would reach 23.28 bcfd, and power generation would reach 33.01 bcfd.


This compares to record highs of 14.32 bcfd for residential consumers in 1996, 9.63 bcfd for commercial users in 2019, 23.80 bcfd for industrial clients in 1973, and 31.75 bcfd for electricity production in 2020.

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