Massive Pipeline Cyberattack Could Affect Prices

Massive Pipeline Attack Could Affect Prices

( -The Biden administration is currently dealing with a ransomware attack on Colonial Pipeline, America’s leading fuel pipeline operator. And it could affect people’s wallets.

Colonial Pipeline, which supplies roughly 45% of the fuel used on the East Coast, reported that it fell victim to a ransomware attack on May 7. Colonial representatives contacted the FBI, who confirmed that Darkside ransomware — a group of hackers — was responsible for the attack.

Colonial Pipeline had to shut down its network. On May 10, It issued a press release stating that it expects to “substantially” restore its operational services later this week. In the meantime, The Hill reported that news wire services say gas prices will rise in the wake of the pipeline’s shutdown. The American Automobile Association said the southeastern portions of the United States would likely experience the increased prices first.

The Biden administration set up an interagency task force over the weekend as part of an effort to minimize the attack’s impact on the nation’s energy supply. The White House has said there are currently no gas or oil shortages, but they are monitoring “potential disruptions to supply.” Hopefully, they have a plan to keep this from hitting American drivers where it hurts: their wallets.

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