The question of the availability of natural resources, especially petroleum, cuts across several industrial sectors. According to the American Petroleum Institute, the US imports half of its oil needs. Of this, 51% comes from other countries in the Western Hemisphere; 21% from the Middle East; 18% from Africa; and 11% from other countries. So if y2k progress is lagging behind outside the US, computer and equipment crashes and data scrabbling in the import chains for oil could be nasty in themselves, even if the US oil drilling, refining and distribution chains were ok domestically.

-- Victor Porlier (vporlier@aol.com), January 22, 1998

Answers

Is it your contention that the oil producers will not realize that they have oil to ship?

Is it your contention that the oil shippers will not realize that the shippers will not realize that there is oil to ship?

Is it your contention that the Petroleum companies will not realize the they are not receiving oil?

What is your contention here?

-- David Lightstone (david.lightstone@internetMCI.COM), January 23, 1998.

I was not "contending" anything regarding natural resurce imports. The data only suggests questions such as: IF either the foreign pumping, refining, or shipping systems are managed by separate corporate entities (non-US), not being integral component divisions of the US oil companies that import, THEN the reports that foreign nations and corporations are further behind than the US in y2k remediation, suggests more possible failures in the import stream than in the domestic production and distribution systems. If that proved to be the case, then it could compound any y2k domestic petroleum problems that might develop. US dependence on foriegn sources of US oil consumption raises research questions,not contentious points to debate.

-- Victor Porlier (vporlier@aol.com), January 23, 1998.

You are correct is saying that IF everything happens as you believe it possible can happen THEN there will be a problem.

When it does happen, IF it does happen, someone will say as they did 10 years ago. Pump the oil, ship the oil and refine the oil. It shouldn't take to long for someone to realize that the oil is not coming out of the ground, or that the monitors (assuming remote monitoring) have failed.

I believe during the Presidency of James Carter a strategic oil reserve was established. I'm not certain whether this reserve was decommissioned or not. Would you sugggest that the situation is sufficiently significant so as to warrant the establishment of such a strategic oil reserve as a contingency?

-- David Lightstone (david.lightstone@internetMCI.COM), January 23, 1998.

I read that the super tankers delivering oil are heavily dependant on systems (makes sense when you consider the size of those vessels and the small staff that rum them) and there are not enough dry docks to accomidate the ships to make the changes in the remaining time. If they can't get compliant they won't get certfication, no certification, no insurance, no insurance, no shipping of oil.

Anybody seen similar information or hopefully information to contradict this?

-- Patrick Galpin (pgalpin@stratum-group.com), January 26, 1998.