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Published May 14. 2021 1:08AM
William Turton, Michael Riley and Jennifer Jacobs, Bloomberg
Colonial Pipeline Co. paid nearly $5 million to Eastern European hackers last Friday, contradicting reports earlier this week that the company had no intention of paying an extortion fee to help restore the country’s largest fuel pipeline, according to two people familiar with the transaction.
The company paid the hefty ransom in difficult-to-trace cryptocurrency within hours after the attack, underscoring the immense pressure faced by the Georgia-based operator to get gasoline and jet fuel flowing again to major cities along the Eastern Seaboard, those people said. A third person familiar with the situation said U.S. government officials are aware that Colonial made the payment.
BP Walks Away From Alaska, But Emissions Continue Duration: 07:49 Apr.15 BP sold everything it owned in Alaska last year, reducing its carbon footprint as it tries to zero out emissions by midcentury. But those northern oil fields are still operating and emissions from there are harder to track. Bloomberg s Rachel Adams-Heard joins Quicktake to discuss.
by Bloomberg
|Monday, February 22, 2021
Spot natural gas price spikes were triggering truly outsized demands.
(Bloomberg) The urgent phone calls came over the holiday weekend: traders of natural gas needed more money, and fast.
Temperatures were starting to plummet across the central U.S. Prices for the heating fuel had skyrocketed 300-fold to levels nobody had thought possible. This would later prove to be the precursor of one of the worst energy crises the nation had seen, plunging millions into darkness for days amid a deadly deep freeze.
But on Saturday, traders in the relatively small and obscure world that is the physical gas market were singularly focused on one very big problem: exchanges were demanding more collateral because of the volatility. The traders had until Tuesday to come up with the cash or else they’d be forced to exit their positions and, in some cases, face potentially catastrophic losses.
Energy Emergency - Texas Power Provider Warns Of Rotating Outages As Cold Weather Tests Limits Of Grid situation in Texas doing from bad to worse:
Weather forecast models suggest the polar vortex will continue pouring Arctic air into much of the central US through Feb. 20. This means nat gas prices could rise even higher early next week as electricity demand continues to soar over the weekend as Americans crank up their thermostats and watch Netflix shows or mine Bitcoin.
Texas power grid operator
The Electric Reliability Council of Texas (ERCOT) is asking consumers and businesses to reduce their electricity use as much as possible Sunday, Feb. 14 through Tuesday, Feb. 16.