“Panic Buying” Creating Gas Shortages Across The Southeast
Last weekend the Colonial Pipeline was the victim of a cyber attack. These hackers normally lock up a system’s computers and demand a ransom to release them. The Colonial Pipeline supplies 45% of the gasoline to the East Coast so this could have caused a huge disruption. But it really didn’t. Panic buying is creating gas shortages.
Much of the pipeline resumed operations on Monday, the pipeline expects to be near fully operational by the end of the week. Also, according to Local 10 government officials waived some safety and environmental rules to allow quicker delivery of fuel. So why are more than 1,000 gas stations across the East Coast out of fuel? Panic buying.
“A lot of that is because they’re selling three or four times as much gasoline that they normally sell in a given day, because people do panic,” said Tom Kloza, an analyst with S&P. “It becomes a self-fulfilling prophecy.”
Local 10 reports 3% of gas stations in Florida had run out of gasoline. Many residents on social media have posted pictures of long lines and foolish behavior at the stations.
https://twitter.com/ashleyyhickmann/status/1392283894108475392
https://twitter.com/LibertyLockPod/status/1392307607512043522
Some harsh language in this next video. If you’re at work or the kids are around, keep the sound down. Hey – that rhymes!
People panic buying #GasShortage pic.twitter.com/j9lauhE9pX
— 𝐌𝐚𝐧𝐧𝐲 ➐ (@MannyR___) May 12, 2021
So here we go again. Another shortage created by panic and hoarding. Toilet paper was just the beginning. If you’ve got a picture or video you can share, please send it to me.
Panic Buying Creating Gas Shortages
