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Colonial Pipeline Hack Ransom Will Be Paid To Bring Back?

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Anne Neuberger, deputy National secretary advisor for cyber and emerging technology: It’s a “private sector decision” as to whether a ransom will be paid to bring the Colonial Pipeline back online.

A cyberattack forced the largest U.S. fuel pipeline to shut down over the weekend, threatening to crimp Southeast U.S. supplies and raise prices if the pipeline isn’t brought back online soon.

Colonial Pipeline Co., operator of the 5,500-mile conduit for gasoline, diesel fuel and other refined products to the East Coast, on Monday said it was bringing segments of the pipeline back online and it hoped to substantially restore operational service by the end of the week.

Given that the pipeline will take at least several more days to come back into service, prices at the pump could rise as inventories of gasoline are reduced in states expected to be particularly hard-hit, including Georgia, North Carolina, South Carolina and Tennessee, analysts said.

The pipeline supplies about 45% of the fuel consumed on the East Coast, according to the company’s website. It runs from the Gulf Coast to Linden, N.J.

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