The Colonial Pipeline, which runs from Houston to Linden, New Jersey, supplies the East Coast with 45% of its gasoline, diesel, jet fuel and heating oil.
Ransomware locks companies and agencies out of their own data using encryption, essentially holding the organization s information hostage until a ransom is paid and instructions to reverse the encryption are supplied by the attackers in return.
Prices have already seen an upturn due to the easement of many COVID-19-related shutdown protocols, said Brian Bethune, a professor of applied economics at Boston College, and so far, the attack on Colonial is not a driving force.
Here s what you need to know:
What parts of East Coast could feel shortages?
The Colonial Pipeline system delivers about 45% of the fuel for the East Coast, including gasoline and jet fuel. It runs more than 5,500 miles from Texas to New Jersey.
States like Georgia, South Carolina, North Carolina and Virginia may be especially vulnerable because they have limited options in terms of fuel transportation alternatives. Gulf Coast states can rely more easily on shipments from tankers.
How many stations are out of gas?
As of mid-morning Tuesday, Virginia was in the worst shape with about 7.5% of stations out, according to GasBuddy. North Carolina was the next worst at 5.4%, while 3.8% of Georgia stations were out, and 1.7% of South Carolina stations were down.
Gas prices rising, State of Emergency issued after Colonial Pipeline cyberattack WSOCTV.com News Staff
North Carolina Gov. Roy Cooper on Monday signed an executive order declaring a State of Emergency in the state due to the temporary shutdown of the Colonial Pipeline.
Colonial Pipeline says a cyberattack forced it to temporarily halt all operations on a major pipeline that delivers roughly 45% of all fuel consumed on the East Coast.
“Today’s emergency declaration will help North Carolina prepare for any potential motor vehicle fuel supply interruptions across the state and ensure motorists are able to have access to fuel,” said Cooper in a statement.
Major US Pipeline Halts Operations After Ransomware Attack By Alan Suderman and Eric Tucker | May 10, 2021
WASHINGTON (AP) The federal government is working with the Georgia-based company that shut down a major pipeline transporting fuel across the East Coast after a ransomware attack, the White House says.
The government is planning for various scenarios and working with state and local authorities on measures to mitigate any potential supply issues, officials said Saturday. The attack is unlikely to affect gasoline supply and prices unless it leads to a prolonged shutdown, experts said.
Colonial Pipeline did not say what was demanded or who made the demand. Ransomware attacks are typically carried out by criminal hackers who scramble data, paralyzing victim networks, and demand a large payment to decrypt it.