Catch Of The Week: Ransomware Shuts Down U.S. Pipeline
Los Alamos
Colonial Pipeline, one of the top U.S. fuel pipeline operators, shut down its entire network, affecting the pipeline that supplies nearly half of the U.S. East Coast’s fuel supply after a cyber-attack involving ransomware.
Just how bad is this? Well, Memorial Day and the summer driving season are coming up in a matter of weeks. So depending on how long this shutdown lasts, it could cause prices to spike at gasoline pumps ahead of the peak summer driving season.
2.5 million barrels of gasoline, diesel, jet fuel, and other refined products are transported through 5,500 miles of pipelines every day by Colonial’s pipeline systems. The pipeline moves products from refiners on the Gulf Coast to the eastern and southern U.S. It also serves some of the country’s largest airports.