Much of the foreign oil that is imported into America will stop coming because of Y2K problems in foreign countries. He gave an example of oil imported from Venezuela. That oil makes up 17 percent of the nation's supply. At least three of the five refineries in Venezuela are planning to shut down at the end of the year. That loss will impact a minimum of 10 percent of the nation's oil, and Venezuela is only a small oil supplier.
Larger nations sending refined oil to the U.S. are in a similar situation.
The Alaskan pipeline is also a major concern. Unless the oil is kept flowing, it will freeze in the Alaskan winter. We know right now that if the power is shut off for more than an hour, in the middle of winter, the oil will freeze solid because it will be too damn cold. The power plants along the pipeline may not be able to operate because of Y2K, creating another danger. If the pipe freezes it could burst.