Biden "Expecting Good News Within 24 Hours from Pipeline Company" (Update)

[Image source=EPA Yonhap News]

[Asia Economy New York=Correspondent Baek Jong-min] On the 12th (local time), President Joe Biden said regarding the pipeline shutdown and gasoline shortage situation, "We expect good news within 24 hours."

President Biden said this in response to a question at the White House about what he would say to Americans concerned about gasoline supply and price increases: "We have been in very, very close contact with Colonial Pipeline."

Jennifer Granholm, Secretary of Energy, also announced that Colonial Pipeline would soon decide to resume operations.

Colonial Pipeline, which accounts for 45% of fuel supply in the U.S. East Coast, halted operations due to a hacking attack, causing gas stations to run out of gasoline mainly in the southeastern U.S. and triggering panic buying.

On this day, the nationwide average gasoline price compiled by the American Automobile Association (AAA) surpassed $3 per barrel. This is the highest price in seven years.

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