Koch Family and Some Foreign Pensions Control Colonial Pipeline
Posted on 05/12/2021
Colonial Pipeline is the operator of the biggest gasoline pipeline in the U.S. Colonial Pipeline ceased operations after a ransomware attack. Gas shortages have spread from Baltimore to Florida. North Carolina has been the state hardest-hit by fuel shortages.
With gas fuel shortages plaguing the Eastern U.S. states, Colonial Pipeline reportedly has no plans to pay rumored US$ 5 million-plus ransom to hackers who have paralyzed the key gas pipeline. U.S. President Joe Biden vows to get the fuel crisis “under control” with pressure mounting on his administration to do more. “I think this is something that demands really serious federal attention. This was essentially a cyberattack on critical infrastructure in our country,” Florida Governor Ron DeSantis said to the media.
Holding tanks are seen at Colonial Pipeline’s Charlotte tank farm in North Carolina in an undated photograph. Reuters
ATLANTA: Top US fuel pipeline operator Colonial Pipeline worked on Sunday to recover from a ransomware cyberattack that forced it to shut down on Friday and sparked worries of a spike in retail gasoline prices.
Colonial said on Saturday it was “continuing to monitor the impact of this temporary service halt” and to work to restore service. It did not give an estimate for a restart date and declined further comment on Sunday.
The incident is one of the most disruptive digital ransom operations ever reported and has prompted calls from American lawmakers to tighten protections for critical US energy infrastructure against hackers.
- May 10, 2021, 12:51 PM
Friday’s shutdown of the Colonial pipeline had not made a meaningful impact on U.S. air travel as of Monday morning. However, the ransomware attack that spurred the shutdown has triggered an increase in spot fuel prices and prompted the Department of Transportation to declare a state of emergency in 17 East Coast states, paving the way for the temporary loosening of restrictions on truck transport of fuel.
In a statement issued last night, Colonial said it continued to work to “understand” the issue, but gave no indication when service would be restored. Industry fuel experts predicted supply problems could emerge as early as Tuesday, as refined products begin to back up in Texas. And this morning, the price of jet fuel had already increased modestly on the spot market above its Friday $1.82-per-gallon closing price. The price of aviation fuel has more than doubled over the last 12 months.
NEW YORK: Colonial Pipeline, top US fuel pipeline operator, continued work on Sunday to recover from a ransomware cyberattack that forced it to shut down on Friday and sparked worries of a spike in retail gasoline prices.
The incident is one of the most disruptive digital ransom operations ever reported and has prompted calls from American lawmakers to tighten up protection for critical US energy infrastructure against hackers.
Colonial said on Saturday it was “continuing to monitor the impact of this temporary service halt” and to work to restore service. It did not give an estimate for a restart date.