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Oil traders are watching workers’ phones to spot problems at refineries

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Re: Oil traders are watching workers’ phones to spot problems at refineries

#51
post #45

Soooo 1. Generate fake phone profiles of a made-up disaster crew 2. Wait for minor disaster at random refinery 3. Feed trackers with location data showing your fake crew moving into that refinery 4. Repeat 2, 3 to associate your profiles with disaster 5. Short some fine $refinery stock 6. Move your crew to $refinery 7. Profit I wonder whether this has already been pulled off :-)

8. Indicted for fraud

Re: Oil traders are watching workers’ phones to spot problems at refineries

#52
post #45

Soooo 1. Generate fake phone profiles of a made-up disaster crew 2. Wait for minor disaster at random refinery 3. Feed trackers with location data showing your fake crew moving into that refinery 4. Repeat 2, 3 to associate your profiles with disaster 5. Short some fine $refinery stock 6. Move your crew to $refinery 7. Profit I wonder whether this has already been pulled off :-)

8. Indicted for fraud

What about it is fraud?

Re: Oil traders are watching workers’ phones to spot problems at refineries

#53
post #45

Soooo 1. Generate fake phone profiles of a made-up disaster crew 2. Wait for minor disaster at random refinery 3. Feed trackers with location data showing your fake crew moving into that refinery 4. Repeat 2, 3 to associate your profiles with disaster 5. Short some fine $refinery stock 6. Move your crew to $refinery 7. Profit I wonder whether this has already been pulled off :-)

I think realistically, the refinery wouldn't have a reason to release the information that they saw a red flag. The stock wouldn't be affected, there'd just be an internal scramble/panic attack.

Re: Oil traders are watching workers’ phones to spot problems at refineries

#54
post #45

Soooo 1. Generate fake phone profiles of a made-up disaster crew 2. Wait for minor disaster at random refinery 3. Feed trackers with location data showing your fake crew moving into that refinery 4. Repeat 2, 3 to associate your profiles with disaster 5. Short some fine $refinery stock 6. Move your crew to $refinery 7. Profit I wonder whether this has already been pulled off :-)

8. Indicted for fraud

don't think this is fraud. Oil refineries aren't lying about their oil production to the general public. It's the hedge funds' fault for relying on their location data.

Re: Oil traders are watching workers’ phones to spot problems at refineries

#55

I'm not surprised in the least. The industry is full of stories that started out as rumors but have ended up proven as true about the lengths they will go for more or better information. I've heard an apocryphal story that I'm still waiting for truth on. It was of a soybean prop trading firm quant who reverse engineered a cross-town rival's trading strategy, allowing them to front run their strategy. The way that the…

>taking a number from the firm's name

I'm lost as to what is meant here by "number". Are you saying the target firm was randomizing its iceberg order's component order sizes using the same seed? If yes, how could the target firm's usage of that seed be known by the "attacker" here?

Re: Oil traders are watching workers’ phones to spot problems at refineries

#58

Why would you allow a mobile phone with its spark hazard any where near an oil refinery.

Probably because no one has ever actually documented sparks caused by mobile phone RF emissions, at least any in current use. That was essentially a bunch of pseudoscientific FUD.

https://www.snopes.com/fact-check/fuelish-pleasures/

Power switches with mechanical contacts on older phones might be a different story, but again, there's no smoking gun (or flaming refinery) that points to this having ever been an issue.

Re: Oil traders are watching workers’ phones to spot problems at refineries

#59
post #17
post #7

Earlier quoted context omitted.

If you have lots of location data say in Houston, and then suddenly in a refinery that's not in their normal day-to-day location data you could assume it's a contractor being called into investigate an on-site problem. or if you detect increased activity from devices that don't have a history on-site. Not 100%, but then they're not going for 100% either.

Step 1: Get list of recent past problems at different refineries from news or people there after the fact or any number of ways. Step 2: Get past location data that includes these periods (but spans a much larger time). Step 3: Analyze what's different about the problem times compared to normal operation. In some cases, it might actually be as simple as X% of work force doesn't come in for normal shift on what is oth…

The discoveries through big-data analysis and visualizations can be endlessly counter-intuitive, mindblowingly unpredictable but also dynamic and powerful, even visceral when you have massively voluminous data that can be fed into systems like Tableau where you can actively tweak data queries, aggregations, transformations and visualization types.

The result can often be something akin to: "wow, who could have ever predicted that this data would extrapolate out to show such a unique visualization or trend"

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