We started to experience supply chain issues earlier in the pandemic related to shortages in semi-conductors and consumer packaged goods. Those persist, but now Europe is really starting to feel the pinch on shortages of energy and subsequently are paying for it.
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In the wake of Hurricane Ida, Louisiana has been left with a significant fuel shortage. The Energy Department has authorized the use of the strategic oil supply to help combat the shortage. The Energy Department is set to release 1.5 million barrels of crude to ExxonMobil Baton Rouge, giving the company the responsibility of replenishing […]
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Across the South East motorists have pulled into gas stations only to see bags covering the handles of the pumps or long lines of cars out into the streets. As you have undoubtedly heard, the Colonial Pipeline has been shut down over the past few days due to a ransom attack. Now that Colonial has […]
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On May 7th, the Colonial Pipeline was paralyzed with a ransomware attack halting 45% of the East Coast fuel deliveries. With the Colonial Pipeline shut down, consumers began panic buying which had a major impact on the readily available supply of fuel.
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The Colonial Pipeline has been shut down since Friday, May 7th after a cybersecurity attack. It is the largest fuel pipeline in the United States that runs from Texas to New Jersey and transports roughly forty-five percent of the East Coast’s fuel supply. Colonial transports 2.5 million barrels per day of gasoline, diesel, jet fuel […]
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Venezuela has been suffering from a fuel shortage due to sanctions imposed by the U.S government. Iran and Venezuela are targets of United States sanctions and therefore Iran has stated its willingness to aid Venezuela as a fellow target of U.S sanctions. In August, the United States seized the cargo of four ships carrying fuel […]
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