Rumor: Wall Street Journal cites "computer glitches" for oil industry problems

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Norway and Nigeria unable to pump oil due to "computer glitches." -------------------------------------------------------------------------------- This is a post from the USA Gold forum (also posted at Petroleum site by Towncrier)

www.usagold.com/cpmforum/

MarkeTalk (3/7/2000; 11:22:14MDT - Msg ID:26486) Oil prices @ $33.75 The oil market continues its relentless move higher today, as light sweet crude just hit $33.75 per barrel. Today's Wall Street Journal, section C, carried a story about Norway and Nigeria unable to pump oil due to "computer glitches." Thus, the real Y2K story is and remains oil. Rumors are now circulating that Clinton will resort to rationing. Say goodbye to the summer vacation in the RV driving across country and say hello to $2.00 per gallon gasoline. As an aside to those readers of Wolanchuk, he predicted in an interview with Stockhouse (www.stockhouse.com) that oil would see $50 per barrel sometime in 2000. In another interview with Stockhouse, Wolanchuk predicted that gold would go over $800 per ounce--and soon.

-- meg davis (meg9999@aol.com), March 07, 2000

Answers

Response to Wall Street Journal cites "computer glitches" for oil industry problems

The Wall Street Journal article mentioned above says NOTHING explicit or even implicit about "computer glitches" as a cause of the problems in Nigeria and Norway. The original poster on usagold.com appears to have fantasized this, or is perhaps a troll?

(BTW, I am something of a doomer myself; but accuracy is important)

--Andre in southcentral Pennsylvania

-- Andre Weltman (72320.1066@compuserve.com), March 08, 2000.


Response to Wall Street Journal cites "computer glitches" for oil industry problems

Good point, Andre. On this forum accuracy is ALL. That's why we monitor forums such as TB2000 but don't acutally re-post many of the posts as they are mostly opinions, or facts still in formation (unverifiable).

Posts like the above are acceptable here, but we usually like to put RUMOR in the title so that we don't have anybody thinking it is truth unitl it is (whatever truth actually is, but that's a whole other discussion).

The GICC is unique in that it sometimes shows the world about how stories can be tracked from "little rumor" to "big breaking story" and then be verified or debunked. We do this in full view of the world, instead of the usual "behind closed doors" process of the newsroom and this is very upsetting to some people who have yet to shift their paradigm to this new way.

Sooo...sometimes we'll slap up a rumor, and then people like you will check it out and give evidence that it is rumor or not. That's what makes the GICC work the way it does.

Good job Meg and Andre. Thank you both. You are a perfect example of how the GICC can really work synergistically.

-- Jen Bunker (jen@bunkergroup.com), March 08, 2000.


Response to Wall Street Journal cites "computer glitches" for oil industry problems

I asked my Y2K-savvy friend in Norway about this. He responded:' I seem to remember some temporary technical problems ( stop for a couple of hours ) in one of the approx. 20 oil fields out in the North Sea, but hardly Y2K related, a few days back. However, Norway is still pumping. The only country in the world pumping more crude oil is Saudi Arabia !

We also had a minor accident, two ships "touching" each other near one of the production platforms the other day, but only paint damages.

Based on these postings, I suggest adding the word "Rumor" to the thread.

-- Jan Nickerson (JaNickrson@aol.com), March 08, 2000.


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