Its a vent it holds pressure but as fuel goes out it vents air in to displace the fuel that is being used. Most think it vents out but it doesnt.
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If air is ever going to go into the tank through the vent, it would mean the tank has drawn a vacuum, which would mean it wasn't pressurized at that time.
Like any fluid, gasoline is going to vaporize. There is a max pressure where this vaporization will stop and maintain at though- vapor pressure. The pressure in the tank should consistantly be this vaporization pressure as gas will constantly vaporize as we use fuel (sloshing around caused by riding helps this) if air isn't allowed to escape. However, what will change this pressure is temperature. Take your red gas can with cap on it out of your cool garage and leave it in the back of your SUV on a summer day. It looks like a balloon when you get back. Vent it and put the cap back in your cool garage. Next day it'll be shriveled up like a prune. This reason, among others, is why I don't believe in the tank pressurization theory. Vent your tank to atmosphere and jet accordingly, because atmosphere is what your popoff and jets all work off of, not some temperature dependent vapor pressure of gasoline.
Now, Wilkey- take your vent off and come ride after work today (surf forecasted!). It may not be tuned perfect, but if you ride without issues, we found your problem. If it's still there, then maybe we chase the coil.