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5/12, 5:26 PM (Source: TeleTrader)
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Biden admin unveils steps to mitigate Colonial halt impact

United States President Joe Biden's administration revealed on Wednesday the steps it is going to take to address the effect of the Colonial Pipeline shutdown on the country's fuel supply and avoid "potential energy supply disruptions to impacted communities."

Those moves include establishing an interagency response group "to monitor and address the situation as swiftly as possible," issuing a "targeted, one-week waiver allowing multiple states to temporarily use non-compliant fuel in an effort to boost available supply," and providing "guidance on securing critical infrastructure." The administration is also "prepared to issue orders to direct Colonial Pipeline to prioritize fuel for destinations to address critical supply shortages."

The Colonial Pipeline was forced to halt its operations earlier this month after a cyberattack on its system. Biden said the US will respond to similar strikes but added there is no proof Russia was behind the act.

Breaking the News / JR