Where The Energy Industry Stands After the Colonial Pipeline Cyberattack

Some refineries in Texas have had to cut back on output.

By Alexandra HartMay 17, 2021 1:46 pm

Colonial Pipeline says its system is back up and running after a criminal group shut down the company’s operations over a week ago. It was revealed that Colonial paid a $5 million ransom to the group responsible for the hack. This attack has revealed weaknesses in infrastructure, cybersecurity and some lingering issues remain with supply in some places.

“The recovery is kind of mottled,” said Matt Smith, director of commodity research at ClipperData. “So you have, say, Washington, DC, where the vast majority of their gas stations have run dry, where there has been gradual improvement in states like Florida and Georgia. But there are still others like, say, North Carolina, where half of their gas stations are still dry.”

What you’ll hear in this interview

– How the situation is affecting demand

– What impacts the attack is having on Texas

– What lessons can be learned from the hack

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