ODU economics professor says mask lift should boost local economy
Scripps National Team
and last updated 2021-05-14 12:23:26-04
HAMPTON ROADS, Va. - Federal officials have cleared the way for those who are fully vaccinated to put the mask away in most situations. The lift is a big win for struggling businesses, says Old Dominion University economics professor Robert McNab. That s going to improve business confidence and consumer confidence considerably, he said.
McNab said pre-pandemic, Virginia s economy grew for 11 straight quarters, then shrunk a whopping 27% in the second quarter of 2020. He s now forecasting an uptick. We should see a considerable uptick in travel and tourism this summer as a result, McNab said.
By Tom Foreman, Jr., Jeff Martin, Ben Finley and Sophie Reardon •
Published 4 hours ago •
Updated 4 hours ago
What to Know
A cybersecurity attack on the Colonial Pipeline has left the nation s largest fuel pipeline offline for nearly a week.
Although the pipeline shutdown did not cause a gasoline shortage, Americans in parts of the Southeastern U.S. have been fuel-hoarding and panic-buying.
As a result, the Biden administration announced early Thursday its decision to waive the Jones Act, a federal law overseeing maritime commerce, to permit an individual company to transport additional gas and jet fuel between Gulf Coast and East Coast ports.
Early Thursday morning, the Department of Homeland Security issued a temporary waiver to allow more fuel to flow within the United States after a cybersecurity.
Pipeline hack sends people scrambling for fuel in the South
Tom Foreman, Jr., Jeff Martin And Ben Finley
Associated Press
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A customer helps pumping gas at Costco, as other wait in line, on Tuesday, May 11, 2021, in Charlotte, N.C. Colonial Pipeline, which delivers about 45% of the fuel consumed on the East Coast, halted operations last week after revealing a cyberattack that it said had affected some of its systems. (AP Photo/Chris Carlson)
CLEMMONS, N.C. – A run on gas following a computer hack of the nation’s largest fuel pipeline had North Carolina tow-truck driver Jonathan King worried about whether he could do his job.
By Tom Foreman, Jr., Jeff Martin, Ben Finley and Sophie Reardon •
Published 4 hours ago •
Updated 3 hours ago
What to Know
A cybersecurity attack on the Colonial Pipeline has left the nation s largest fuel pipeline offline for nearly a week.
Although the pipeline shutdown did not cause a gasoline shortage, Americans in parts of the Southeastern U.S. have been fuel-hoarding and panic-buying.
As a result, the Biden administration announced early Thursday its decision to waive the Jones Act, a federal law overseeing maritime commerce, to permit an individual company to transport additional gas and jet fuel between Gulf Coast and East Coast ports.