A pipeline in Alabama was hacked, and gasoline demand spiked in several states. The Colonial Pipeline system, which supplies gas to the Southeast and Atlantic coasts of the United States, has been shut down for a week after it reported an unknown amount of crude oil spilled near Birmingham on September 9th.
This is not the first time this year that pipelines have caused problems by being hacked or attacked- just last month eleven oil tankers were set on fire simultaneously while they were parked at ports along the East Coast of Africa.
The hacking incident may not be related to terrorism but rather could be due to longshoremen who are striking against petroleum companies such as Royal Dutch Shell PLC. Computer systems have been compromised by hackers.
This past week, gas prices have increased. As of this writing, the price of regular unleaded is about $3.59 per gallon in California and Washington state; that's up 20 cents from last week. The national average is $2.89 which is also up 10 cents from a few days ago!
The reasons for these spikes are unclear and vary depending on location, but with the summer driving season approaching it may be worth keeping an eye out to see when the next spike might come around so you can plan or make adjustments as needed to your budget if necessary.
The automotive industry is worth trillions of dollars and has been around for more than a century. In comparison, the electric car industry is still in its infancy. Automotive companies have spent billions on research which will not be wasted if they switch to electric cars. Many things make it difficult for people to switch over to electric cars, such as an expensive battery replacement process and limited charging stations. For those reasons, some people prefer to stay with traditional automobiles.
How does the US compare to other countries regarding electric vehicle (EV) adoption? Well, according to a study by AAA of EV drivers in five countries--China, France, Germany, Japan, and the United States--the U.S. ranks 4th on their adoption list at 31%. China is number one with 40% of its citizens driving EVs while Norway comes in second with an impressive 55%.
In a recent cyber attack on an oil company, the hackers managed to disrupt gasoline supply lines. The hackers were able to remotely operate and manipulate valves at a pumping station in West Virginia. This incident has left many people wondering what could happen if similar hacks took place on other pipelines with more dangerous consequences.
The Department of Homeland Security is currently investigating this case, but it's unclear how widespread these attacks are or what kind of damage they're doing to our infrastructure.
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