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Pemex Guarantees Gasoline Supply for Two Weeks in Case of Y2K Problems

Story Filed: Tuesday, December 07, 1999 8:26 PM EST

MEXICO CITY, Dec. 07 (El Financiero/Infolatina)-- Petroleos Mexicanos (Pemex) will increase the reserves of gasoline sufficiently to cover demand for two weeks in order to guarantee supply in the event of any problems caused by Y2K. The main problem could be created at gas stations, since if every driver in the country tries to fill his tank on the 31st of December the deposits will be emptied, and will have to be filled again, causing considerable, and unnecessary chaos. Therefore there is sufficient supply, but distribution could be made difficult by panic buying.

Copyright ) 1999, InfoLatina S.A. de C.V., all rights reserved.

-- Homer Beanfang (Bats@inbellfry.com), December 09, 1999

Answers

http://www.foxmarketwire.com/wires/1209/f_rt_1209_18.sml

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U.S. moves ahead with Y2K contingency oil plan 11.42 a.m. ET (1642 GMT) December 9, 1999

WASHINGTON  U.S. Energy Secretary Bill Richardson said Thursday he sent to the White House contingency plans to sell oil from the Strategic Petroleum Reserve in case of a supply disruption caused by Y2K computer problems.

"The plans rely on the Strategic Petroleum Reserve -- and the president, if he deems it necessary, can sign these findings at the appropriate time and put our plans into action,'' Richardson said in a speech prepared for delivery at an energy conference.

The reserve, created after the Arab oil embargo of the 1970s, holds about 572 million barrels of oil.

"This is not to suggest that there is a problem, only that we are prepared,'' Richardson added. His speech gave no details about what else was included in the contingency plans, or what level of disruption would trigger the sale of the stockpiled emergency oil.

The U.S. energy chief said he discussed with his counterparts from Mexico and Venezuela what actions could be taken if world oil supplies were abruptly curtailed at the end of the month because of malfunctioning computers. The so-called Y2K problem refers to a computer's inability to recognize the year 2000.

"We are developing a communications plan to keep us in concert up to, during, and after the rollover in addition to each of our contingency plans in the event that there is an oil supply disruption somewhere,'' Richardson added, referring to similar plans by Mexico and Venezuela.

The U.S. Energy Information Administration recently said that in case of an emergency, the nation's stockpiled oil could be moved into the world oil market as in as little as 15 days.

-- Homer Beanfang (Bats@inbellfry.com), December 09, 1999.

Yeah...i'm sure they will....at what price?

-- C. Hill (pinionsmachine@hotmail.com), December 09, 1999.

PEMEX also promises to wipe out corruption and inefficiency in their organization every election cycle. Gee, looks like there is a history of disconnection between their words and subsequent deeds. Kind of calls into question how "bedrock" is their "Y2K no problem, senor" promise.

www.y2ksafeminnesota.com

-- MinnesotaSmith (y2ksafeminnesota@hotmail.com), December 09, 1999.