Show an ad over header. AMP

I am the FIRST

Biden admin declares state of emergency to keep fuel supply lines open after cyberattack

The Biden administration on Sunday declared a state of emergency in response to a ransomware attack that forced operator Colonial Pipeline to shut down a key U.S. pipeline.

Why it matters: Friday night's cyberattack is "the most significant, successful attack on energy infrastructure" known to have occurred in the U.S., notes energy researcher Amy Myers Jaffe, per Politico.


The big picture: Colonial Pipeline carries 45% of fuel supplies in the eastern U.S. Some 5,500 miles of pipeline has been shut down in response to the attack.

  • While gasoline and diesel prices aren't expected to be impacted if pipeline operations resume in the next few days, fuel suppliers are becoming "increasingly nervous" about possible shortages, Bloomberg notes.

What's happening: Department of Transportation issued the declaration to keep fuel supply lines open.

  • It said in a statement the declaration "addresses the emergency conditions creating a need for immediate transportation of gasoline, diesel, jet fuel, and other refined petroleum products and provides necessary relief."
  • Colonial said in a statement Sunday while its main fuel lines remained offline, some smaller lines between terminals and delivery points were now operational.
"[We] will bring our full system back online only when we believe it is safe to do so, and in full compliance with the approval of all federal regulations."
Excerpt from Colonial statement

What they're saying: Commerce Secretary Gina Raimondo told CBS' "Face the Nation" there's an "all hands on deck" effort to resume operations.

  • "We are working closely with the company, state and local officials, to make sure that they get back up to normal operations as quickly as possible and there aren’t disruptions in supply," she told CBS' John Dickerson.

4 ffp

Why the startup world needs to ditch "unicorns" for "dragons"

When Aileen Lee originally coined the term "unicorn" in late 2013, she was describing the 39 "U.S.-based software companies started since 2003 and valued at over $1 billion by public or private market investors."

Flashback: It got redefined in early 2015 by yours truly and Erin Griffith, in a cover story for Fortune, as any privately-held startup valued at $1 billion or more. At the time, we counted 80 of them.

Keep reading... Show less

Scoop: Facebook's new moves to lower News Feed's political volume

Facebook plans to announce that it will de-emphasize political posts and current events content in the News Feed based on negative user feedback, Axios has learned. It also plans to expand tests to limit the amount of political content that people see in their News Feeds to more countries outside of the U.S.

Why it matters: The changes could reduce traffic to some news publishers, particularly companies that post a lot of political content.

Keep reading... Show less

Scoop: Amazon quietly getting into live audio business

Amazon is investing heavily in a new live audio feature that's similar to other live audio offerings like Clubhouse, Twitter Spaces and Spotify's new live audio platform, sources tell Axios.

Why it matters: As with Amazon's efforts in podcasting and music subscriptions, the company sees live audio as a way to bolster the types of content it can offer through its voice assistant, Alexa, and its smart speaker products.

Keep reading... Show less

Hurricane Ida exposes America's precarious energy infrastructure

The powerful hurricane that plunged New Orleans into darkness for what could be weeks is the latest sign that U.S. power systems are not ready for a warmer, more volatile world.

The big picture: “Our current infrastructure is not adequate when it comes to these kinds of weather extremes,” Joshua Rhodes, a University of Texas energy expert, tells Axios.

Keep reading... Show less

"We must go further": 70% of adults in European Union are fully vaccinated

About 70% of adults in the European Union are fully vaccinated against COVID-19, Ursula von der Leyen, the president of the European Commission, said Tuesday.

Why it matters: The milestone makes the E.U. one of the world's leaders in inoculations, after an initially lagging vaccine campaign, the New York Times notes.

Keep reading... Show less

What Elizabeth Holmes jurors will be asked ahead of fraud trial

Jury selection begins today in USA v. Elizabeth Holmes, with the actual jury trial to get underway on Sept. 8.

Why it matters: Theranos was the biggest fraud in Silicon Valley history, putting both hundreds of millions of dollars and thousands of patients' health at risk.

Keep reading... Show less

Insights

mail-copy

Get Goodhumans in your inbox

Most Read

More Stories