How Oilguard Gives Readers a Head Start MCGRATH & O'CONNOR WORLD May 17, 1990. New York, NEW YORK. Want tomorrow's news tonight? That's what readers of Pratt's Oilguard News can now get through the newsletter's on-line edition. It gives them full text of each day's printed issue on-line, the night before -- at about 7 P.M. New York time -- when Pratt's editors close for the following day. This is the first Pratt's Energy Services newsletter to go online with complete text. Created with in-house technology, the new service is designed to solve problems to customers caused by late mail delivery.
The newsletter has been considered essential reading for oil company executives and government energy officials since 1934. Oilguard News "Is meant to be the first thing they pick up with their morning cup of coffee," says editor in chief Omar Martian. "It is supposed to be delivered overnight, but in many cases, we were experiencing delays of up to five days in the U.S. and up to 15 days in certain overseas locations. Our information was history by the time it reached subscribers."
Alternative delivery methods such as telex and fax were considered, but the most practical approach was online. "Not only is the information timely," says Scott McFadden, directory of Technology for the Commodity Future Traders Stocks & Bonds Options Group, "but customers wanted an electronic format so they could manipulate the Oilguard News data easily, and download it into their existing computer systems." In addition, going online meant the newsletter could tap into an exisiting McGrath and O'Connor distribution engine: the Electronic Markets System. This online energy information service, based at McGrath & O'Connor's computer center in New Jersey reaches subscribers worldwide by dedicated phone lines. "All we had to do was create an electronic image file, a system that displays OilGuard News on a computer screen in roughly the same way it looks in print," says Mr. McFadden.
Because most computer screens can fit only 80 characters to a line, the electronic image file, developed by systems administrator Ruby Sowders, converts the newsletter's two-column format into one column. Headlines and text appear almost the same as they do in print, but column rules are missing. "It's a very readable format," says Ms. Sowders.
Each electronic issue is first relayed by a phone line from New York to the database in New Jersey. Subscribers all over the world can then dial up the service using local phone numbers. After viewing a preview of the next day's headlines, users can call up a specific story, such as new OPEC oil quotas, choose a category of information, such as North American or international news, or print out the entire six-page issue. Users can also retrieve historical data from previous issues.
Subscribers to both the electronic and print version will benefit from later deadlines. "At the same time that we're introducing the electronic newsletter, we're also converting OilGuard News to desktop publishing," says Mr. Martian. "We'll be able to roll back our deadlines each day about a half-hour, to accommodate late-breaking stories."
UP NEXT: HOW MUCH DOES IT COST? (I know you all care about that so....See you all next week. Same time, same place. Until then, take care, stay safe and have a happy Memorial Day Weekend! REMEMBER: No talking, no texting, no sex-ting on your cell phone while driving -- even hands free. It's just as distracting and has caused many unnecessary fatalities. Wake up and smell the coffee...before it's too late.
Denise
