adplus-dvertising
Connect with us

News

Pipeline outage causes U.S. gasoline supply crunch, panic buying

Published

 on

Gas stations from Florida to Virginia began running dry and prices at the pump rose on Tuesday, as the shutdown of the biggest U.S. fuel pipeline by hackers extended into a fifth day and sparked panic buying by motorists.

The administration of U.S. President Joe Biden projected that the Colonial Pipeline, source of nearly half the fuel supply on the U.S. East Coast, would restart in a few days and urged drivers not to top up their tanks.

“We are asking people not to hoard,” U.S. Energy Secretary Jennifer Granholm told reporters at the White House. “Things will be back to normal soon.”

Colonial was shut on Friday after hackers launched a ransomware attack – effectively locking up its computer systems and demanding payment to release them – and the company has said it is hoping to “substantially” restart by the end of this week.

But the outage, which has underscored the vulnerability of vital U.S. infrastructure to cyberattacks, has already started to hurt.

About 7.5% of gas stations in Virginia and 5% in North Carolina had no fuel on Tuesday as demand jumped 20%, tracking firm GasBuddy said. Unleaded gas prices, meanwhile, neared an average $2.99 a gallon, its highest price since November 2014, the American Automobile Association said.

In an effort to ease the strain on consumers, Georgia suspended sales tax on gas until Saturday, and North Carolina declared an emergency. The U.S. federal government, meanwhile, has loosened rules to make it easier for suppliers to refill storage, including lifting seasonal anti-smog requirements for gasoline and allowing fuel truckers to work longer hours.

Granholm said there is not a shortage but a gasoline supply “crunch” in North Carolina, South Carolina, Tennessee, Georgia and Southern Virginia, regions that typically rely on Colonial for fuel.

Driver Caroline Richardson said she was paying 15 cents more per gallon than a week ago as she refueled at a gas station in Sumter, South Carolina. “I know some friends who decided not to go out of town this weekend to save gas,” she said.

DARKSIDE HACK

The strike on Colonial “is potentially the most substantial and damaging attack on U.S. critical infrastructure ever,” Ohio Senator Rob Portman told a Senate hearing on cybersecurity threats on Tuesday.

The FBI has accused a shadowy criminal gang called DarkSide of the ransomware attack. DarkSide is believed to be based in Russia or Eastern Europe and avoids targeting computers that use languages from former Soviet republics, cyber experts say.

Russia’s embassy in the United States rejected speculation that Moscow was behind the attack. President Joe Biden a day earlier said there was no evidence so far that Russia was responsible.

A statement issued in DarkSide’s name on Monday said: “Our goal is to make money, and not creating problems for society.”

It is unknown how much money the hackers are seeking, and Colonial has not commented on whether it would pay.

“Cyber attacks on our nation’s infrastructure are growing more sophisticated, frequent and aggressive,” Brandon Wales, acting director of the Cybersecurity and Infrastructure Security Agency (CISA), said on Tuesday at a Senate hearing on the SolarWinds hack that hit companies and government agencies.

GOVERNMENT STEPS IN

The Environmental Protection Agency issued a waiver on Tuesday that allows distributors to continue supplying winter fuel blends through May 18 in three Mid-Atlantic states to help ease supplies.

North Carolina and the U.S. Department of Transportation, meanwhile, relaxed fuel-driver rules, allowing truckers hauling gasoline to work longer hours. North Carolina and Virginia have both declared a state of emergency.

The U.S. has also started the work needed to enable temporary waivers of Jones Act vessels in response to the cyber attack – something that would allow foreign flagged fuel carriers to move from one U.S. port to another, the Transportation Department said.

There are growing concerns that the pipeline outage could lead to further price spikes ahead of the Memorial Day weekend at the end of this month. The weekend is the traditional start of the busy summer driving season.

Gulf Coast refiners that rely on Colonial’s pipeline to move their products have cut processing. Total SE trimmed gasoline production at its Port Arthur, Texas, refinery and Citgo Petroleum pared back at its Lake Charles, Louisiana, plant, sources told Reuters.

Marathon Petroleum is “making adjustments” to its operations due to the pipeline shutdown, a spokesman said without providing details.

While the pipeline outage is having big short-term consequences in some regions, some experts believe the longer term impact will be small.

“Markets will go crazy, but two weeks later no one knows it happened,” said Chuck Watson, director of research at ENKI, which studies the economic effects of natural and other disasters.

(Reporting by Laura Sanicola, Stephanie Kelly and Devika Krishna Kumar; Additional reporting by Nandita Bose; Editing by Paul Simao, Cynthia Osterman and Grant McCool)

News

‘Error in judgment’: Province probes school board’s $45k Italy trip for $100k of art

Published

 on

TORONTO – Ontario’s education minister has asked officials to conduct a governance review of a Brantford-area Catholic school board after trustees spent $45,000 on a trip to Italy to buy $100,000 worth of art.

Trustees of the Brant Haldimand Norfolk Catholic District School Board promised to pay back the trip expenses, not long after they were reported by the Brantford Expositor, but Education Minister Jill Dunlop said more answers are necessary.

“While I acknowledge that the (board) is taking steps to fix their error in judgment, I remain concerned that accountability was only taken after my ministry and the public expressed clear concerns for the misuse of taxpayer dollars,” Dunlop wrote in a statement.

“With that in mind, I have asked my officials to start the process to conduct a governance review of the board.”

The Brantford Expositor reported that the art purchased in Italy included life-sized, hand-painted wooden statues of St. Padre Pio and the Virgin Mary, a large crucifix, sculptures depicting the 14 stations of the cross and a bust of Pope Francis.

Most of the art is destined for St. Padre Pio Catholic Secondary School, currently under construction, which the board wants to make a “flagship” school, the newspaper reported.

Board chair Rick Petrella initially told the Expositor that he and three other trustees travelled to Italy over the summer to meet artisans and commission the religious artwork.

“We looked at buying it off the shelf, but nothing stood out,” he told the newspaper.

But Petrella and the board of trustees now say in a subsequent statement that they regret the trip, and have promised to repay the expenses, as well as look at donations or other funding to offset the cost of the artwork to the board.

“We recognize that the optics and actions of this trip were not favorable, and although it was undertaken in good faith to promote our Catholic identity and to do something special for our two new schools, we acknowledge that it was not the best course of action,” they wrote.

The province is also conducting an audit of the Thames Valley District School Board in southwestern Ontario due to a staff retreat in Toronto that cost nearly $40,000, including a stay at the Rogers Centre hotel.

The ministry is also doing an expedited investigation of the Toronto District School Board after Premier Doug Ford raised concerns about a recent field trip, which saw students from 15 schools attend a protest on mercury contamination affecting a First Nation community in the north.

Videos of the protest on social media show some march participants chanting pro-Palestinian slogans, which prompted Ford to complain that teachers were trying to indoctrinate children.

This report by The Canadian Press was first published Oct. 18, 2024.

The Canadian Press. All rights reserved.



Source link

Continue Reading

News

Credit card fees for small businesses dipping lower as deal set to take effect

Published

 on

TORONTO – Credit card fees for small and medium-sized businesses are starting to dip lower as a deal reached between the federal government and the two major card companies is set to take effect.

Mastercard and Visa are reducing interchange fees by up to 27 per cent in a move that Ottawa says will save businesses about $1 billion over five years.

Dan Kelly, president of the Canadian Federation of Independent Business thanked Finance Minister Chrystia Freeland for seeing the deal through. In a statement, he said qualifying businesses could expect about $350 savings per year for each $100,000 in Visa sales and about $200 in savings per year for each $100,000 in Mastercard sales.

To qualify, businesses’ sales volume can’t exceed $300,000 on Visa and $175,000 for Mastercard.

The change officially takes place Saturday, but some payment processors have already started to pass on the savings.

The small business group has, however, noted that not all processors have been clear that they’ll pass on the savings, pointing for example to Stripe where not all customers will see a change.

Kelly said Stripe’s decision means the company would keep the savings that were intended for small business customers.

“It’s extremely disappointing to see a big company take this approach,” he said.

Stripe says customers on its Interchange Plus plan, which sees costs vary by transaction type, will see the fee reductions passed through, just like other network cost and fee changes.

But those on its flat-rate plan won’t see a change, because the company says it has seen other costs and fees rise that add up to more than the reduction in interchange fees.

Other processors such as Moneris have said that qualifying businesses on both its interchange plus and flat rate model will see a reduction.

Finance Ministry spokeswoman Marie-France Faucher said the fee reduction should benefit about 90 per cent of businesses that accept credit card, and the department expects companies to pass on the savings.

“The federal government is closely monitoring the implementation of the credit card fees reduction, with the strong expectation that all payment processors like Stripe will pass the savings on to small businesses.”

She said the revised code of conduct for the industry has also given businesses more rights, including switching processors without penalty.

This report by The Canadian Press was first published Oct. 18, 2024.

The Canadian Press. All rights reserved.



Source link

Continue Reading

News

Quebec nurses union votes in favour of new collective agreement

Published

 on

MONTREAL – Quebec’s largest nurses union has reached a deal with the provincial government more than a year and a half after their collective agreement expired in March 2023.

Fédération interprofessionnelle de la santé, known as the FIQ, announced Thursday evening that two-thirds of union members had voted to adopt a new collective agreement recommended by a conciliator.

The details of the deal were not disclosed, but a major sticking point had been the government’s push for nurses to be more flexible in moving between health-care facilities to address staffing needs.

The union rejected a deal in principle in April over concerns about transfers between health centres, but president Julie Bouchard says those requirements will now be better defined.

However, Bouchard is not declaring victory and says the union will continue to fight to improve difficult working conditions, which include mandatory overtime and staff shortages.

The union has 80,000 members, including the majority of Quebec nurses, and the new collective agreement covers the period from 2023 to 2028.

This report by The Canadian Press was first published Oct. 18, 2024.

The Canadian Press. All rights reserved.



Source link

Continue Reading

Trending