US pipeline shutdown sparks worries of $3 gas
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A cyberattack forced the largest US fuel pipeline to shut down Friday, and analysts are worried the disruption could result in a spike in gas prices.
The Colonial Pipeline system spans more than 5,500 miles and transports about 45% of all fuel consumed on the East Coast. It transports 2.5 million barrels per day of gasoline, diesel, jet fuel and home heating oil.
Colonial Pipeline Company said it was the victim of a cybersecurity attack that involved ransomware. In an update on Sunday, the company said that its four mainlines remain offline, but some smaller lines between terminals and delivery points are now operational. The pipeline’s owners include Royal Dutch Shell.
Reuters Reuters
10 May, 2021, 5:00 pm
Holding tanks are seen at Colonial Pipeline s Charlotte Tank Farm in Charlotte, North Carolina, U.S. an undated photograph. Colonial Pipeline/Handout via REUTERS.
(Reuters) -The White House was working closely with top U.S. fuel pipeline operator Colonial Pipeline on Sunday to help it recover from a ransomware attack that forced the company to shut a critical fuel network supplying populous eastern states.
The attack is one of the most disruptive digital ransom schemes reported and has prompted calls from American lawmakers to strengthen protections for critical U.S. energy infrastructure from hacking attacks.
Commerce Secretary Gina Raimondo said the pipeline fix was a top priority for the Biden administration and Washington was working to avoid more severe fuel supply disruptions by helping Colonial restart as quickly as possible its more than 5,500-mile (8,850 km) pipeline network from Texas to New Jersey.
The US government invoked emergency powers on Sunday after a top oil pipeline was hit by one of the worst ever cyberattacks.
Fuel pipeline operator Colonial Pipeline was knocked offline by a cybercriminal gang on Friday and forced to shut a critical fuel network supplying the east coast. The company is working to restore its service.
The emergency declaration means rules are relaxed for drivers transporting fuel and petrol in 18 states. Drivers can work extra or more flexible hours to make up for any fuel shortages.
The populous states affected include Alabama, Florida, New York, Texas, and Virginia. All-hands-on-deck
The attack is one of the most disruptive digital ransom schemes reported and has prompted calls from American lawmakers to strengthen protections for critical US energy infrastructure from hacking attacks.
The incident has drawn attention to how vulnerable US energy infrastructure is to hackers
A prolonged shutdown of the line would cause prices to spike at gasoline pumps
New York: Top U.S. fuel pipeline operator Colonial Pipeline shut its entire network, the source of nearly half of the U.S. East Coast`s fuel supply, after a cyber attack on Friday (May 7) that involved ransomware.
The incident is one of the most disruptive digital ransom operations ever reported and has drawn attention to how vulnerable US energy infrastructure is to hackers. A prolonged shutdown of the line would cause prices to spike at gasoline pumps ahead of peak summer driving season, a potential blow to U.S. consumers and the economy.