Monday, 05/10/2021Published by: Housley Carr. The Biden administration is continually assessing the impact of the Colonial Pipeline incident on fuel supply for the East Coast, White House Press … “Even when that pipeline is restarted- for us in Tennessee, it still could take several days for us to receive that product. NASHVILLE, Tenn. (WKRN) — Many people who started working from home during the pandemic are now relocating since they are no longer tied to a physical office. Figure 2. Colonial Pipeline halted operations to contain the threat after learning of Friday's attack, the company said. Typically, Line 1 (capacity 1.37 MMb/d) is used to transport motor gasoline from Houston-to-Greensboro and Line 2 (capacity, 1.16 MMb/d), which runs parallel to Line 1, typically transports “batches” of distillate (diesel and heating oil), or jet fuel and can also be used for gasoline. On Saturday (May 8), the Federal Motor Carrier Safety Administration issued an emergency declaration to allow truck drivers hauling refined products to work longer hours in the 17 affected states plus the District of Columbia. The same holds true for Jones Act shipments from the Gulf Coast to the East Coast — it takes at least a few days to make that journey, and Colonial may well be back in business before the tankers arrive in PADD 1 ports. Unlike unplanned refinery or petchem cracker outages, pipelines can usually be brought back up to capacity in relatively short order. This comes as a busy travel season is anticipated. Colonial Pipeline Company – Affiliate Declaration 1. This material may not be published, broadcast, rewritten, or redistributed. [Before moving on, we should note that five entities hold ownership interests in Colonial Pipeline, including Koch Industries (with a 28.09% stake); a joint venture of South Korea’s National Pension Service and Kohlberg Kravis Roberts (a.k.a. Then I’ll start crying,” said Ronnie Miller as he was filling up his truck. Based on the below definition of Affiliate, identify all Affiliates who are Shippers on the Colonial Pipeline System. pic.twitter.com/PvknSVpRrx. This isn’t an indicator of any sort of supply shortage however, in certain areas because Tennessee is serviced by that pipeline, we could see some local outages,” said Megan Cooper, a spokesperson for AAA. We further hope that the FBI and FireEye (the cybersecurity firm assisting in the investigation and recovery effort) are able to effect some sort of justice on DarkSide. Also, the price spread between the Gulf Coast and East Coast would need to be perceived as durable enough to justify the additional cost of shipping on Jones Act tankers. The R4B zoning allows for 15 units per acres – so 45 units. It’s partly due to a chip shortage that’s been cutting into the inventory of new cars, and pushing people into the pre-owned market. A valid e-mail address. - Is the Crude Market Headed for an Ugly Replay of This Spring? A cyberattack has forced the shutdown of a major gas pipeline in the U.S. that supplies 45% of all fuel consumed on the East Coast. “There’s always that possibility that gas will get too high to do anything but go to work and maybe the grocery store and then if you get higher than that then it’s going to get worse,” said Lisa Hartsook as she was getting gas in Johnson City on Monday. “Colonial says they want to be a good neighbor,” Lyke said, … The e-mail address is not made public and will only be used if you wish to receive a new password or wish to receive certain news or notifications by e-mail. One potential route is the Kinder Morgan-operated Plantation Pipeline, even though it only extends as far north Washington D.C. and has a capacity of 720,000 barrels a day, far short of Colonial’s. We’ve already seen reports that some players have begun to stockpile excess Gulf Coast products onto tankers to capitalize on contango opportunities. Colonial Pipeline is Committed to Excellence. The shutdown of the Colonial Pipeline could have an impact on your wallet and time at the pump. When the Ship Comes In - First Tanker Set to Arrive at South Texas Gateway Crude Export Terminal, Gimme Some Truth - Permian Well Shut-ins Wind Down, But Natural Declines Extend Oil, Gas Downturn, We Take Care of Our Own, Part 2 - Pemex's Struggles Bode Well for U.S. Colonial’s primary route (from Houston to Linden, NJ) consists of four distinct segments, which, like the “arms” and “legs” of an H, meet at Greensboro, NC. It depends on how much of the pipeline system is shut down and for how long, of course. Coming into this week, consumers are bracing for paying more at the gas pump following the cyberattack on Colonial Pipeline, the operator of the largest petroleum pipeline … Additionally, airports in this region served by Colonial include some of the nation’s busiest, including those in Atlanta, Charlotte, and Nashville, not to mention Dulles and Reagan National airports in northern Virginia. “It’s horrible. A Cathie Wood ETF has bought into a Serena Williams-backed SPAC. All e-mails from the system will be sent to this address. Cafferty and The Beaver Brown Band were a bar band performing in Providence, RI, that were hired to play the music in the film by director Martin Davidson, who was looking for a band that sounded like Bruce Springsteen and the E Street Band. While local storage volumes can absorb a short-term shock to the system, the longer the outage lasts, the more severe the effects of higher fuel prices, particularly at airports, where stockpiles are often limited and dependent on regular receipts. Figure 1. The Colonial Pipeline, the principal transporter of gasoline and diesel fuel up and down the East Coast of the United States, was temporarily shut down on Friday after its operator, Colonial Pipeline Co., learned it was the victim of a cyberattack. And what about Kinder Morgan’s Plantation Pipeline, whose service area in the Southeast largely overlaps that of Colonial? The offerings are usually packed into the Venice Cash for Cars lot in Los Angeles. © 1998 - 2021 Nexstar Media Inc. | All Rights Reserved. Georgia-based Colonial is an interstate common carrier that owns and operates a 5,519 mile petroleum products pipeline system which delivers, on … Join us at 11 for what Triple A says could happen in Tennessee and for reaction from drivers. Marquette County man loses nearly $1,000 to real estate scam. As shown by the red line in the left graph in Figure 2, gasoline inventories in sub-PADD 1C already were on the low side before DarkSide’s ransomware attack on Colonial led the pipeline system’s operators to shut the system down — below the five-year range (gray-shaded area in left graph) and 9% below the inventory level in the spring of 2019 (blue line in left graph). The shutdown of the Colonial Pipeline could have an impact on your wallet and time at the pump. “This is kind of a double whammy in regards to gas supply availability with that increase in demand as well as those increasing gas prices,” Cooper said. An extended outage on Colonial could even impact crude oil prices. The cyberattack against Colonial Pipeline, which runs from Houston to Linden, New Jersey, began 7 p.m. on Friday night, according to a Federal Emergency Management Agency report reviewed by ABC News. [Notably, there was a similar response just a couple months later, on Halloween of 2016, when a backhoe hit Line 1, resulting in a fire.]. WASHINGTON — A U.S. energy company says a cyberattack forced it to temporarily halt all operations on a major pipeline that delivers roughly 45% of all fuel consumed on the East Coast. A few segments of the 13-state system have since been restored to service, but it remains unclear how long it might take to bring the rest of Colonial back online — Colonial indicated on Monday that it hopes to have most or all of the system up and running by the end of this week. One cause for optimism is that, historically, when we’ve seen outages on Colonial, the affected markets are able to rebalance themselves shortly after pipeline service is restored. After more than a year of COVID-related demand destruction for motor gasoline, diesel, and jet fuel, economic activity and mobility have been rising sharply in recent weeks as the number of vaccinated Americans has increased, constraints on businesses (capacity limits etc.) Plantation pipeline. Colonial Pipeline experiencing network issues -company 3 days ago California police investigating fatal Tesla crash 4 days ago China steel futures rise to … Colonial Pipeline Receives Distinguished Pipeline Safety Award from the American Petroleum Institute 08/20/2020 Press Release 811 Day, August 11, Serves as … Colonial Pipeline's owners include Koch Industries (aka Koch Capital Investments Company LLC, 28.09% stake ownership), Kohlberg Kravis Roberts (aka Keats Pipeline Investors LP, 23.44% stake ownership), Caisse de depot et placement du Quebec (16.55% stake ownership), Royal Dutch Shell (aka Shell Pipeline Company LP, 16.12% stake ownership), and Industry Funds Management (aka IFM (US) Colonial … LOS ANGELES (NewsNation Now) — There aren’t as many bargains in the used-car market these days. Over 2.1 million people have signed a Change.org petition started by a restaurant owner in Denver. A cyberattack has forced Colonial Pipeline to halt operations of its 5,500 miles of pipeline, which transports approximately 45% of all fuel consumed on the East Coast. Learn about new events and offers to keep you at the forefront of industry news and opportunities. At Greensboro, these products go into breakout tanks; from there, gasoline, distillates, and jet fuel are sent further north (again in batches) on two mainline pipes. U.S. demand for diesel, in turn, is back to 4.10 MMb/d, or 1% above its spring-of-2019 level, and demand for jet fuel — by far the hardest-hit refined product during COVID — stands at 1.15 Mb/d, or 37% lower than in late-April/early-May of 2019 (but 77% higher than a year ago). Source: RBN. A lot of that ability to respond to a crisis, whether it be a pipeline leak or a hack by an Eastern European criminal group called DarkSide, involves what you might call “market-inspired workarounds” — alternative suppliers reacting to an anticipated supply void and potentially higher prices by jumping into action. While they may be able to handle a short-term outage on Colonial by diverting refined products into storage, refined products pipelines to the Midwest, or exports, the Colonial system is too big for them to do without for long. Colonial Pipeline Company provides pipeline services. Colonial Pipeline Shutdown Threatens to Magnify Gasoline-Price Surge Cyberattack disrupts largest U.S. fuel conduit as more drivers are preparing … Keats Pipeline Investors LP, with 23.44%); Caisse de dépôt et placement du Québec, a Québec-based pension and insurance fund (with 16.55%); Shell (with 16.12%); and IFM Investors, an Australia-based infrastructure investment firm (with 15.80%).]. SAN RAMON, Calif., October 11, 2010 – Chevron Corp. (NYSE: CVX) today announced that a wholly-owned subsidiary, Chevron Pipe Line Co., has sold its 23.44 percent ownership interest in the Colonial Pipeline Co. to an affiliate of Kohlberg Kravis Roberts & Co. L.P. (We’ve already gotten wind of a least a couple of refineries taking units offline.) While Colonial’s operators scramble to restore their affected IT operations and restart the rest of their pipeline system, the shutdown will continue to have both upstream and downstream effects. Cargo diversions in mid-voyage are a relatively common occurrence — shippers can react quickly when prices for refined products spike up or down. Cathie Wood's ETFs ditch ownership caps, add SPAC warning. A number of Colonial-system spurs deliver refined products to markets in central and eastern Tennessee, southern Georgia, eastern North Carolina, and eastern and western portions of Virginia. “The more that people begin to fill up unnecessarily or fill up extra containers of gasoline that they may not even use in the short-term, that just makes the problem worse for everyone,” said Cooper. The acquisition will increase Shell Midstream Partners’ total interest in Explorer to 38.59 percent and in Colonial to 16.125 percent. I think I work hard for my money and I don’t want to give it all to the gas company,” said Ginger Stitcher. White House says possible payment up to Congress, The differences between periodical and annual cicadas, Sinkhole drains man-made lake in St. Louis. The largest shareholder in Colonial Pipeline is Koch Industries, which owns 28.09 percent of the company. Sub-PADD 1C Gasoline and Diesel Stocks. Colonial Pipeline Accident Report submitted to the U.S Department of Transportation Pipeline and Hazardous Materials Safety Administration (Sept. 13, 2020) Preliminary information sent to DEQ by Colonial Pipeline (Sept. 20, 2020) - includes site map, monitoring and recovery well locations, boring logs, water supply well analytical results, surface water and sediment sample results. The album Eddie and The Cruisers (Original Motion Picture Soundtrack) was recorded in 1982 and produced by Vince DiCola and Ed Fruge. Georgia-based Colonial is an interstate common carrier that owns and operates a 5,519 mile petroleum products pipeline system which delivers, on … As for refined products supplies and inventories, we’ll focus on PADD 1 (the East Coast, plus three interior states: Vermont, Pennsylvania, and West Virginia) since that’s the region most dependent on the Colonial Pipeline system, and most affected by its current troubles. Colonial Pipeline is the largest refined products pipeline in North America, running from supply centres in the Gulf Coast to customers located along the Eastern seaboard of the United States. He ventured that those who live near a property tend to “mentally lay ownership beyond their property lines.” If you want to maintain a low-density environment, then you move into a subdivision to secure that type of density, he said. The Company delivers gasoline, kerosene, home heating oil, diesel, national defense fuels, … According to the Energy Information Administration (EIA), U.S. gasoline demand (“product supplied”) has averaged 8.95 MMb/d since mid-April, or 3 MMb/d (50%) higher than the 5.95-MMb/d average for the same three-week period in 2020 and only 550 Mb/d (6%) lower than the 9.50 MMb/d average in late April/early May in 2019 — the last pandemic-free spring. Still, the Colonial event provides further evidence of how vulnerable crude oil, natural gas, NGL, and refined products infrastructure is to cyberattacks, given their heavy dependence on computers. Originally known as Beaver Brown, the band got its name from a vintage paint can. [Before moving on, we should note that five entities hold ownership interests in Colonial Pipeline, including Koch Industries (with a 28.09% stake); a joint venture of South Korea’s National Pension Service and Kohlberg Kravis Roberts (a.k.a. Shell Midstream Partners will acquire Shell’s 25.97 percent equity interest in Explorer Pipeline Company (Explorer) and 10.125 percent equity interest in Colonial Pipeline Company (Colonial) for $800 million. It cut deliveries of 2.5 million barrels per day of gasoline, diesel, and jet fuel through 5,500 miles (8,850 km) of pipelines. (Bloomberg) -- The hackers who caused Colonial Pipeline to shut down the biggest U.S. gasoline pipeline on Friday began their blitz against the company a day earlier, stealing a … Colonial Pipeline provided the update to the White House after being forced to halt operations because of a ransomware attack the FBI has linked to a criminal gang. Rick Lyke, whose home also abuts the pipeline right-of-way, is skeptical of the company’s corporate ownership, which includes Koch Industries, a fossil fuel behemoth owned by the Koch Brothers. have eased, and — to put it bluntly — people are itching to get out again. After the success of the movie on video and pay-per-view cable, the album was re-released in September 1984, and went to #13 on the Billboard Top 200 Albums chart. The acquisition is expected to close on May 18, 2015 and will be funded through a Colonial Pipeline is owned by a consortium of companies, including Koch, KKR-Keats Pipeline Investors, L.P., Caisse de depot et placement du Quebec, IFM (US) Colonial Pipeline 2, and Shell Midstream Operating. The Rice Paddy in Marquette transfers ownership, Aoy’s future plans. But we can learn a lot from what happened in September 2016, when Colonial’s 1.37-MMb/d Line 1 was shut down due to a leak detected in Shelby County, AL, and remained offline for 12 days. Colonial Pipeline, the largest refined products pipeline in the United States, is experiencing network issues that have impacted its pipeline system, a company notice said on Friday. The limiting factor for tanker trucks, as you might guess, is their 250-bbl (11,600-gallon) capacity — that is, even a fleet of hundreds of them can’t begin to make up for the loss of most of a 2.5-MMb/d pipeline system. 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