Bennett: Much of our petro from 'wholly unprepared' countries.

greenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread

http://deseretnews.com/dn/view/1,1249,125012235,00.html Nothing really new here, but

The committee's chairman, Sen. Robert Bennett, R-Utah, warned that business and government leaders simply do not know whether preparations are adequate and projections accurate.

Bennett raised concerns about disruptions abroad affecting U.S. businesses, noting that auto companies might not get foreign parts needed and consumers might not get fresh produce from countries such as Chile. He added that much of the petroleum Americans use come from countries "that are wholly unprepared."

This may affect the United States, he warned. "The question is, 'How much?' "

But William Dudley, director of the U.S. Economic Research Group at Goldman Sachs & Co., said U.S. businesses are generally not dependent on those least prepared countries.

-- lisa (lisa@work.now), November 03, 1999

Answers

William Dudley, director of U.S. Economic Research Group at Goldman Sachs & Co., is obviously an idiot.

The stupidity of people on this issue, in particular, is difficult to comprehend.

-- The Original Me (me@me.me), November 03, 1999.


And I believe Goldman Sachs. Yup. They did such a FINE job tinkering with the gold market. Yessiree. We may have a global economy, but US businesses are not dependant on the least prepared countries. Well, I am relieved now.

Anybody got a bridge I can buy? (Hope it's cheap, I already have a big collection.)

-- Margaret J (janssm@aol.com), November 03, 1999.


Only businesses that depend in any way on petroleum are at risk. That really narrows it down, doesn't it, Goldman Sachs?

-- Bill Byars (billbyars@softwaresmith.com), November 03, 1999.

Well, lessee. If I ship in raw materials, they come by rail or truck and THAT looks like petroleum dependent.

If I ship out finished goods, THAT looks dependent.

If I'm in the North East or North West or in the North Central States i heat, and use either gas or oil, and THOSE are Petroleum, though heck, heat ain't all it's cracked up to be, let 'em shiver.

I'd say that the only businesses that are NOT petroleum dependent are web based, because they don't have to, oh, whoops, they ship UPS and FEDEX and THOSE guys use TRUCKS and PLANES.....OH DARN!

Night train

-- jes a thick-skulled footballer (nighttr@in.lane), November 03, 1999.


That can't be true Lisa, if it was, I'd be terrified!

-- Homer (Pollyman@springifeld.com), November 03, 1999.


Good thing them black helicopters don't run on gasoline, or they'd hafta leave 'em parked on the tarmac! And them UN trucks, tanks, APC's, etc., etc., etc.

-- Jay Urban (Jayho99@aol.com), November 03, 1999.

Bill Byars.. I think you've got it. Only those companies or individuals who buy or sell anything that has to be transported in any way could possibly be affected. Whew... that sure is a relief.

-- Linda (lwmb@psln.com), November 04, 1999.

Saw that Dudley quote before and asked my friend at Goldman if Dudley was a partner. His answer? "No, and I get your point."

-- Dave (aaa@aaa.com), November 04, 1999.

Some of the stuff that gets transported via refined petroleum, courtesy Stan............I didn't see anything I use on the list..
According to U.S. Commerce... 
Selected Imports and Exports (in millions) 

Alcoholic bev.,distilled: July 1999 : Exports = 30 : Imports = 228

Animal feeds: July 1999 : Exports = 242 : Imports = 48

Basketware, etc.: July 1999 : Exports = 253 : Imports = 372

Chemicals - medicinal: July 1999 : Exports = 870 : Imports = 1,258

Cereal flour: July 1999 : Exports = 110 : Imports = 122

Cigarettes: July 1999 : Exports = 239 : Imports = 10

Clothing: July 1999 : Exports = 636 : Imports = 5,557

Coal: July 1999 : Exports = 183 : Imports = 44

Coffee: July 1999 : Exports = 1 : Imports = 194

Copper: July 1999 : Exports = 82 : Imports = 256

Cork, wood, lumber: July 1999 : Exports = 322 : Imports = 881

Corn: July 1999 : Exports = 453 : Imports = 2

Cotton, raw and linters: July 1999 : Exports = 100 : Imports = 24

Crude oil: July 1999 : Exports = 72 : Imports = 4,435

Fish and preparations: July 1999 : Exports = 309 : Imports = 760

Footwear: July 1999 : Exports = 57 : Imports = 1,339

Furniture and bedding: July 1999 : Exports = 312 : Imports = 1,292

Glassware: July 1999 : Exports = 54 : Imports = 172

Iron and steel mill prod: July 1999 : Exports = 397 : Imports = 1,141

Lighting, plumbing: July 1999 : Exports = 107 : Imports = 412

Liquified propane/butane: July 1999 : Exports = 16 : Imports = 73

Meat and preparations: July 1999 : Exports = 539 : Imports = 279

Metal manufactures, n.e.s.: July 1999 : Exports = 856 : Imports = 1,229

Metalworking machinery: July 1999 : Exports = 460 : Imports = 561

Natural gas: July 1999 : Exports = 19 : Imports = 497

Nickel: July 1999 : Exports = 25 : Imports = 53

Oils/fats, vegetable: July 1999 : Exports = 77 : Imports = 117

Optical goods: July 1999 : Exports = 191 : Imports = 243

Paper and paperboard: July 1999 : Exports = 793 : Imports = 1,073

Petroleum preparations: July 1999 : Exports = 263 : Imports = 1,318

Platinum: July 1999 : Exports = 50 : Imports = 149

Pottery: July 1999 : Exports = 8 : Imports = 151

Rice: July 1999 : Exports = 66 : Imports = 10

Rubber articles, n.e.s.: July 1999 : Exports = 120 : Imports = 144

Rubber tires and tubes: July 1999 : Exports = 188 : Imports = 391

Silver and bullion: July 1999 : Exports = 19 : Imports = 62

Soybeans: July 1999 : Exports = 200 : Imports = 1

Sugar: July 1999 : Exports = 0 : Imports = 37

Textile yearn, fabric: July 1999 : Exports = 708 : Imports = 1,181

Toys/games/sporting goods: July 1999 : Exports = 266 : Imports = 1,793

Travel goods: July 1999 : Exports = 25 : Imports = 375

Vegetables and fruits: July 1999 : Exports = 561 : Imports = 652

Watches/clocks/parts: July 1999 : Exports = 30 : Imports = 271

Vehicles: July 1999 : Exports = 2,936 : Imports = 10,761

Wheat: July 1999 : Exports = 351 : Imports = 31

-- Stan Faryna (info@giglobal.com), September 23, 1999



-- lisa (lisa@work.now), November 04, 1999.

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