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Biden said it expects good news in the next 24 hours.



Update 5:15 PM ET: Energy Secretary Jennifer Granholme. Just announced Colonial Pipeline Re-starting gas pipeline operations

WASHINGTON – President Joe Biden on Wednesday said he expects good news “in the next 24 hours” about the ongoing cyberattack on colonial pipelines that have disrupted the deployment of fuel; Down the east coast in the past few days

“We’ve been in close contact with the Colonial Pipeline, which is the only area you̵

7;re talking about – one of the reasons gasoline prices go up,” Biden said on Wednesday afternoon.

“I think you will hear good news in the next 24 hours and I think we can control it.”

The remarks came as Americans in the Southeast and Mid-Atlantic faced a shortage of fuel at the pumps since late Monday, with little signs of a drop on Wednesday afternoon. Panicking purchases in some states exacerbate supply chain problems.

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“In the meantime, I’ve made it easier for us to remove some of the restrictions on fuel transportation, including access to the U.S. military on fuel and vehicles to get there where it is absolutely necessary,” Biden said.

The Biden’s latest move illustrates what the White House says is a massive government mobilization in response to the crisis, which began when colonial federal agencies informed Friday it was a target. Of ransomware attacks

The administration said on Tuesday it would determine “Comprehensive federal response” aimed at restoring and maintaining the US energy supply chain.

The attack forced the company to shut some 5,500 miles of shipping pipelines, causing nearly half of the country’s east coast fuel supply to stall.

The Colonial Pipeline attacks have been traced back to a hacker group called DarkSide, a group of hackers established after a “ransomware as a service” business model, meaning DarkSide hackers developed and marketed it. Hack tools, ransomware and sold to other criminals attacking them.

DarkSide is believed to have operated outside Russia. But the White House said there was no evidence that the attack was state-sponsored or directed by the Kremlin.

Questions remain around how Colonial Pipeline resolves the attacks, including whether Colonial paid the ransom that hackers often claim in these situations.

White House press secretary Jen Psaki declined to answer specific questions about how Colonial Pipeline and Biden work, but the companies and entities are working closely together.

The Department of Energy is leading the federal response to coordinate with the FBI, the Department of Homeland Security and the Department of Defense.A FireEye Mandiant spokeswoman confirmed to CNBC that the U.S. cybersecurity firm is working with Colonial. Pipeline after the incident

The national average for 1 gallon of unleaded gasoline rose to $ 2.985 on Tuesday, up 6 cents last week.

The regional price increases, however, are sharper, AAA finds.For example, in South Carolina, gasoline prices have risen more than 6 cents since Monday and 13 cents last week. In Georgia, drivers paid $ 2.87 per gallon on Tuesday, more than 10 cents in just one day and 17 cents a week.

A further 3 cents a gallon increase will put the U.S. average selling price at its highest since November 2014.

“We are seeing a full panic right now in some places that I suspect we may have seen,” said Tom Kloza, OPIS global head of energy analysis. From the petrol terminals to the stations we see a number of stations running out, Georgia looks like a ground zero. ”

Kloza said he expects gasoline prices to rise. But did not skyrocket The bigger problem is that gasoline will be in short supply in the region as it takes time for replacement when opening the hoses and interruption can occur.

The gasoline in the tube travels at a speed of just 5 mph.

CNBC’s Eamon Javers, Amanda Macias and Patti Domm contributed reporting.

This is breaking news Please check back for updates.


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