http://www.wired.com/news/politics/0,1283,32777,00.html

Y2K Fuel Shortages 'Improbable'

Wired News Report

2:10 p.m. 29.Nov.1999 PST

Oil powers Venezuela, Mexico, and Saudi Arabia, the top suppliers of oil to the United States, said Monday they would act jointly to face up to any Y2K interruptions in global oil supply.

But any supply disruption was "highly improbable," after extensive tests and simulations, the countries said in a joint statement from Caracas.

The trio added it was committed to guaranteeing a balanced market around the key date, when some computers risk malfunction.

The three exporters have emerged as key managers of global oil supply since early 1998 when they masterminded production cuts in response to the deepest price crash in decades.

As a result of the cuts, many countries have a large margin of unused capacity. But some other producers, notably Iraq, have done little to update their systems, which could misinterpret the change of year as a malfunction and shut down crucial operations.

Oil prices have more than doubled this year to nine-year highs as a result of the output cuts, which are scheduled to expire in March 2000.

Consumers are expected to stock up on fuel ahead of 31 December, while producers are filling inventories at home and abroad to ensure the availability of supplies in case of production problems.

Last week the US government said it was prepared to sell crude oil from its enormous Strategic Petroleum Reserve if a Y2K problem disrupted supply.

Reuters contributed to this report.

-- Uncle Bob (UNCLB0B@Tminus32&counting.down), November 29, 1999

Answers

1) Why are they issuing this press release? To prevent panic, maybe?

2) And what was Venezuela's readiness in the latest impartial study?

-- Mad Monk (madmonk@hawaiian.net), November 29, 1999.

-- Uncle Bob,

Do you believe this article when they say they can supply all the crude oil we need? How do you think all the pipelines,oil tankers,ports,and refineries are going to fend out? Whats your position as to the whole oil question? Don't get me wrong I don't have a clue. I just would like to try and get a better feel for what the most probable outcome will be. I get the feeling that the bigger problem with oil is in the pipelines and refineries. From what I have read and my gut feelings on this, I guess a 25% reduction in refined oil products. Whats your educated guess?

-- Gambler (scotanna@arosnet.com), November 29, 1999.

30%, time to put more air in my bicycle tires...You guys remember reading way back that the rationing in the 70's was due to a 7% decrease? Hmmm, worrisome.

-- Hokie (nn@va.com), November 29, 1999.

Wow, that's very reassuring.

Just the fact that they are planning to work together seems to indicate that they know they are going to be screwed up. Do Arabs speak Spanish, and vice versa?

This will be like trying to build a Ferrari using parts from a Ford, a Toyota, and a Volkswagen.

I've always enjoyed watching the 3 Stooges, maybe it will be fun!

-- Hawk (flyin@high.again), November 29, 1999.

I know.... they're going to rely on manual work-arounds, right?

Yup... time to get the bikes "Y2K ready".

-- Linda (lwmb@psln.com), November 29, 1999.

Very Nice "Dickhead".

Are you really proud of your porno-flick on a site easily visited by children.

Disgusting

-- Randers (coyotecanyon@hotmail.com), November 29, 1999.

MUST I be subjected to seeing a circumcised penis?

-- preparing (preparing@home.com), November 29, 1999.

Way to go, Diane! THAT was fast!

(Fastest Sysop in the west, she is!)

-- preparing (preparing@home.com), November 29, 1999.

Hmmm...is there any limit to the extent that the polly terrorists will go to disrupt this forum? Who are the real nazis here?

-- haha (haha@haha.com), November 30, 1999.

Gambler...

Because I post them, please do not assume I agree with them. Just out of curiosity, having never met me, having never spoken to me, why would you jump to the conclusion that what I post (not what I have written) is what I believe? Does the same hold true in your world for all of the other posters who present all sides?

Just wondering...

-- Uncle Bob (UNCLB0B@Tminus32&counting.down), November 30, 1999.

* Bank Runs / Market Crash - 12/99
* Major Oil Problems - 1/00
been postin' this for half a year now, won't need to wait much longer ...

-- Dan G (earth_changes@hotmail.com), November 30, 1999.

From: Y2K, ` la Carte by Dancr (pic), near Monterey, California

Uncle Bob said: ...why would you jump to the conclusion that what I post (not what I have written) is what I believe?

Unc: Why would you jump to the conclusion that he jumped to that conclusion? :>

-- Dancr (addy.available@my.webpage), November 30, 1999.