Cyberattack On Colonial Pipeline Leading To Gas Shortages And High Prices

The cyber attack on the Colonial Pipeline is causing gas shortages throughout the south. The pipeline is the largest refined products pipeline in the U.S., and spans over 5,500 miles as well as transports about 45% of all fuel on the East Coast which is around 2.5 million barrels per a day of gasoline, diesel, jet fuel and home heating oil. The pipeline was shut down on Friday following a cyberattack and remains closed which is why gas prices have risen to almost $3 a gallon for the first time since 2014.

The hacker group from Russia called ‘DarkSide’ is behind the attack, but, they are known to rent out it’s software to other hackers. The U.S. hasn’t been able to tie ‘DarkSide’ to the Russian government but suspects it to be operating for profit. Over the weekend, the White House formed an inter-agency group to discuss scenarios, planning for next steps and the Biden Administration is working to finalize an executive order to respond and defend against major cyber attacks.