In its latest report on the energy trilemma of security, equitable access and sustainability, the World Energy Council and its project partner Oliver Wyman polled dozens of policymakers and regulators to find out what they think stakeholders should do to help policy meet the global energy challenge. “It is time to cut through the present… Keep reading →
Spanish oil company Repsol and Argentina’s YPF are working through a bitter breakup in which the former is suing the Argentine government for $10.5 billion. Now Chevron is working with YPF to develop shale assets, much to Repsol’s chagrin. “It is scandalous that Chevron is acting in a way contrary to the law and to… Keep reading →
The following is an excerpt from an Energy Solutions Forum Industry Brief. In an increasingly technology-dependent society with growing energy needs as we seek a higher quality of life, disturbances in electricity supply and quality can have severe implications daily. They can cause significant losses of information, efficiency and productivity as interruptions crash computers and the critical services reliant upon them, such as life… Keep reading →
A miniature version of this scenario took place earlier this week in Silicon Valley. It prompts me to remind utilities not to let the current emphasis on cybersecurity cause them to overlook the very real and important issues around physical security. – Jesse Berst
Quick Take: A few years back, a friend of mine served on a Department of Homeland Security committee on infrastructure protection. They heard lots about cyber threats. But the thing that worried them the most was the “Seven Bullets Theory.” That’s the idea that a terrorist group could shut down the entire East Coast grid with just seven well-placed bullets at seven different substations.
A miniature version of this scenario took place earlier this week in Silicon Valley. It prompts me to remind utilities not to let the current emphasis on cybersecurity cause them to overlook the very real and important issues around physical security. – Jesse BerstKeep reading →
Six months ago two Louisiana sheriffs were shot to death and two more injured in the parking lot of a Valero oil refinery. Six years ago Saudi police halted a pair of armed terrorist attacks on the world’s largest refinery, in one case opening fire on a car that exploded near the facility’s gates.
Guns are more than a theoretical issue for the energy business, which controls much of the world’s most vital – and most vulnerable infrastructure. As the US contends with a public debate given new urgency by a series of high-profile shootings, the issue of security and gun control in and around key energy infrastructure is once again front of mind for many of the bodies charged with monitoring energy security and devising responses to potential threats. Keep reading →
Oil is a global commodity–it is easy and cheap to ship it around the world. That means that the security of its distribution network is just as important as the security of its supply. This distribution network–including port terminals, huge oil supertankers, and lengthy pipelines–is vast and costly. It is also vulnerable to conflict, piracy and terrorism.
About one fifth of America’s oil imports come from the Persian Gulf, passing through the Strait of Hormuz as it is shipped to our shores. Over 15 million barrels of oil per day pass through the Strait, a 21 mile-wide body of water vulnerable to Iranian anti-ship missiles. Iran has repeated its threats to close the Strait and is well positioned to carry out attacks on oil tankers in transit. The very threat of closing the Strait of Hormuz to shipping is enough to give the Iranian regime more leverage in the region than they are due. Keep reading →