Currents - Energy Industry Insights, Volume 5, Issue 17

Gas Stations Run Dry as Pipeline Races to Recover From Hacking -

"Gas stations along the U.S. East Coast are beginning to run out of fuel as North America’s biggest petroleum pipeline races to recover from a paralyzing cyberattack that has kept it shut for days."

Why this is important: On May 7, 2021, the oil pipeline system that carries approximately 45 percent of all fuel consumed on the East Coast suffered a ransomware attack. The attack resulted in the system being shut down. The result was predictable. Gasoline stations along the East Coast began to run out of fuel due to normal demand and panic buying. The aviation industry was forced to tap into fuel reserves. Emergency shipments by oil tankers were sent to the East Coast. The White House declared a state of emergency and lessened limitations on transportation of fuel by roadway. As of this writing, Colonial Pipeline has restarted the system, but cautions that it will take several days for normal service to resume. This ransomware attack is merely the latest in a string of cyberattacks targeted at critical infrastructure and the White House's plan to increase security at utilities and their suppliers. It seems like every issue of Currents reports on a new cyberattack or a warning of a possible new cyber threat. This latest attack shows the crippling effects these attacks can have and raises concerns about the constant threats critical infrastructure face.

Please see full Newsletter below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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