WASHINGTON -- Motorists nervous about the potential for Jan. 1 shortages shouldn't stockpile gas or they could create the very shortages they fear, Energy Secretary Bill Richardson says.
Richardson and Stephen Hayes of the AAA said the gasoline industry was generally prepared for any Y2K computer problems and cautioned Americans against panicking and purchasing large amounts of fuel in the next week."If you have half a tank, you're good to go. There's no need to hoard gasoline," Richardson said Thursday. "Storing it in your house is not a good idea, way more dangerous than any 'millennium bug.' "
So far, gasoline consumption is roughly where it was last year at this time, but prices have risen to their highest level in nearly two years, and reserves are down millions of barrels.
Speaking from a local gas station, Richardson tried to reassure consumers.
"We can't say nothing will happen, but we are ready for any contingency," he said. "We believe very strongly that the industry is ready for Y2K."
U.S. gas supplies are sufficient to meet demand, and prices should be stable, Richardson said. The Energy Department expects demand for New Year's Day to be similar to that on a typical Fourth of July weekend.
Hayes agreed. "As we approach the end of the year, it should be 'business as usual' at the gas station," he said.
But while the U.S. oil industry has prepared for Y2K, questions remain about the rest of the world.
A May report from the General Accounting Office, the investigative arm of Congress, noted that more than half of the oil used by the United States is imported, leaving the nation vulnerable to production and transportation problems in countries that have done less to prepare for any Y2K problems.