Pipeline re-starts on US East Coast after ransomware attack
Colonial Pipeline has announced that its East Coast pipeline has been re-started, but that it will take several days for the supply chain to return to normal.
The six-day pipeline shutdown that led to panic buying at petrol pumps on the US eastern seaboard has come to an end, says pipeline operator, Colonial Pipeline.
The outage caused shortages in many states and higher prices, as well as higher charter rates for oil tankers in the last few days, as traders booked tankers to ship gasoline and diesel from Europe.
Following the ransomware attack President Biden stressed the need to invest in infrastructure, saying, “that’s one of the many things my American Jobs Plan is designed to do.”
Transportation Secretary Pete Buttigieg said, “Having excellent, modern infrastructure has always been a national security issue. This is one more reminder that infrastructure in the US means a lot more than roads and bridges.”
