Analysts are beginning to question whether Carl Icahn has taken on an insurmountable challenge by investing heavily in Chesapeake Energy. “The company made its second big cut in capital spending in the last month, highlighting the grinding toll that low oil and gas prices are taking on energy stocks—and how tough it will be… Keep reading →
The House Energy and Commerce Committee lead by Chairman Fred Upton has released a “framework document” Monday that outlines their legislative goals for energy policy. Congressman Upton said, “Our energy realities have changed dramatically – we’ve gone from bust to boom practically overnight. However, today’s energy policies are lagging far behind.” The four-part outline described… Keep reading →
Madelyn Creedon Confirmed as Principal Deputy Administrator for the National Nuclear Security AdministrationBy U.S. Department of Energy
WASHINGTON – Madelyn Creedon was confirmed by the Senate on Wednesday, July 23, 2014, as the Department of Energy’s (DOE) Principal Deputy Administrator for the National Nuclear Security Administration (NNSA). “Madelyn Creedon’s confirmation comes at a critical point for the National Nuclear Security Administration,” said Secretary of Energy Ernest Moniz. “She is well-prepared for her… Keep reading →
Energy News Roundup: Cyber Attacks Hit Energy Firms, Devon Sells $2.3 Billion in Non-core Assets & Opec Output BoostBy Jared Anderson
It’s called “Energetic Bear” and some experts believe elements of the Russian government are behind a string of malware infections that reportedly compromised hundreds of industrial control systems. Originally thought to be used as a form of espionage, experts believe the technology can gain control of energy infrastructure and “cripple physical systems such as wind… Keep reading →
Cybersecurity is becoming an increasingly important issue for utilities and other energy companies as more business tasks are connected to online environments in various ways. To better address these risks, President Obama issued Executive Order 13636, “Improving Critical Infrastructure Cybersecurity,” which called for the development of a voluntary risk-based Cybersecurity to enhance the security and resilience… Keep reading →
The natural gas industry is optimistic about its own future, but safety – be it pipeline, environmental or cyber – continues to be a key concern, according to Black & Veatch’s second annual Strategic Directions in the North American Natural Gas Industry survey. The overwhelming majority of the survey’s 336 respondents expect the US natural gas industry to… Keep reading →
Dear State Public Utility Commission Chairmen and Chairwomen, Risk management isn’t a new concept for any of the utility companies you regulate, nor I’m sure, is it new for you and your team. When large storms or fires cause power outages, you monitor how quickly electric utilities return service to customers. When proposals for new… Keep reading →
The energy industry is absolutely full of things that almost no one thinks about until they break. Until a high profile blackout or a price spike, the complex and technical questions that determine the outcomes of fundamental sector responsibilities like reliability and data security are often ignored by the broader public and even by industry… Keep reading →
The need to secure the electric grid against cyberattacks has attracted attention at both the corporate and policy level. But no one actually knows what “secure” really means, and making that determination may prove challenging.
Decision-makers at energy companies and on Capitol Hill have been alerted to the danger of a cyber attack on the electric grid. While those concerns may be valid, calls to “secure the grid” assume a level of knowledge of the state of grid security that even experts in the field may not possess, said IBM Energy Security Lead Andy Bochman at the Advanced Energy Conference in New York this week. Keep reading →
Sophisticated worms – automated software that spreads between computer devices – can infect an entire electric grid in a matter of seconds, but there may be effective defenses against them, according to Rob Johnson, assistant professor of computer science at Stony Brook University.
The critical role various computing devices have assumed in the daily functioning of the power grid has dramatically altered the security needs of utilities. While safeguards are already in place to protect against physical threats, like natural disasters, utilities may lack the tools to protect their networks from cyber attacks, such as worms. Keep reading →