Today's Wall St. Journal: "Oil Nations Lean to a Rise in Production" and "Crude Futures Skid as OPEC Officials Raise Prospect of Increasing Oil Supply": Again, I need help in posting the text.

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

Articles on pages A-3 (by Bhushan Bahree) and C-19 (by Masood Farivar), respectively.

I'd appreciate assistance in posting the texts. Thanks.

-- eve (eve_rebekah@yahoo.com), February 18, 2000

Answers

Consider the possibility that maybe they can't raise production due to problems stemming from embedded systems and back orders for parts? I posted elsewhere on this at the Milne thread. I won't repeat it, but something seems to be seriously wrong with the sophisticated equip. The old stuff seems to be chugging okay. It's the automated stuff causing problems...not politics, not weather. Things seem to be getting worse as more problems crop up. IF this is true, then OPEC can't raise production, in fact they'll be lucky to hit quota restriction levels and capacity may be poised to continue shrinking. Keep in mind also, the measuring/metering abilities are totally out of whack with many systems leaving oil companies guessing as to what they got. So the "official" figures are just WAG (wild-ass guesses) in many cases if what I'm hearing is true.

-- Dick Moody (dickmoody@yahoo.com), February 18, 2000.

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