Electricity Is the New Oil
Amy Myers Jaffe provides an in-depth look at the U.S. strategy for the post-hydrocarbon world, via an article in Foreign Affairs.
Last month, hackers launched one of the most ambitious digital assaults in recent memory. On May 7, a group known as DarkSide used a ransomware attack to shut down one of the largest pipelines in the United States, a vital artery carrying gasoline, diesel, and jet fuel from U.S. Gulf Coast refineries to ten states on the East Coast. The intrusion required the operator, Colonial Pipeline, to temporarily halt deliveries, resulting in widespread shortages as panicked drivers stocked up on fuel. The disruption also forced several airports to alter flight itineraries and pushed average fuel prices across the country to their highest level since 2014.