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Gold/Mining/Energy : Gold Price Monitor

GDXJ 96.88

+0.9%

Nov 18 4:00 PM EST

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To: lorne who wrote (45453)	12/1/1999 10:57:00 AM
From: John Hunt	Read Replies (1) of 116762

IEA plans for emergency oil sales if Y2K crisis << The International Energy Agency (IEA) has drawn up plans to provide emergency oil supply and introduce rationing if the Y2K computer bug plays havoc with global energy flows, a spokesman for the West's supply watchdog said Tuesday. The plan, to go for approval before the Paris-based group's board of governors on December 10, would kick in if computer failures feared at the dawn of the new century slash seven percent or more from industrial countries' oil supplies. "In the documents setting up the IEA the director is given the right to apply crisis mechanisms when there is turmoil in the oil markets," said IEA spokesman Scott Sullivan. "These would have to involve activating our systems in ways such as allocating oil reserves and restraining demand, for example with brief oil rationing." >> ... more at ... abcnews.go.com ***** Morning Lorne, I have it on good authority, that when the Canadian army deploys for Y2K, they will fan out to protect all vital Canadian facilities, starting with Tim Horton donut shops. Guess we can leave donuts off the prep list. < vbg > John

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