Worries Grow Colonial Pipeline Ransomware Attack Could Lead To Higher Prices At The Pump

NEW YORK (CBSNewYork) – It’s a race against time as a major fuel pipeline that runs from Texas to New Jersey remains shut down after a cyber attack.

Hackers targeted the Colonial Pipeline, and are holding its data for ransom.

“While this situation remains fluid and continues to evolve, the Colonial operations team is executing a plan that involves an incremental process that will facilitate a return to service in a phased approach. This plan is based on a number of factors with safety and compliance driving our operational decisions, and the goal of substantially restoring operational service by the end of the week,” a spokesperson said in a statement.

There’s worry the shutdown could mean higher prices at the pump, and across other industries.

“Along with increased costs for airlines, shipping companies and others. shortages for retail fuel stations are possible if the pipeline remains offline for an extended period of time,” said Rep. Andrew Garbarino.

Garbarino is the ranking member of the House Subcommittee on Cybersecurity and Infrastructure.

The New York lawmaker is calling on Congress to make there is regulation against ransomware attacks.

from CBS New York https://newyork.cbslocal.com/2021/05/10/colonial-pipeline-hack/
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