Monday, May 20, 2024

Colonial Pipeline shutdown and looming Line 5 disruption could result in price bump at the pump

A cyberattack that knocked out the main oil pipeline supplying the U.S. Eastern Seaboard and the potential shutdown of a major Canadian conduit could send fuel prices soaring, the Financial Post reports  The outage on the Colonial Pipeline could be exacerbated by a Michigan state order forcing Enbridge Inc.’s Line 5 pipeline — supplying oil to Michigan, Ohio, Ontario and Pennsylvania refineries — to shut down on Wednesday, which could further strain U.S. oil supply. Calgary-based Enbridge has vowed to defy the order and continue shipping oil through the line until forced to close by a court.

 

https://financialpost.com/commodities/energy/two-potential-shutdowns-of-major-fuel-pipelines-this-week-show-fragility-of-north-americas-energy-system

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