A sophisticated cyberattack on the U.S. power grid could cause nearly $250 billion in economic losses.
Cyber Attacks
Lloyd’s Report Highlights Risk Of Cyberattacks On National Power Grid
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Courtesy of the team at Jones Oil
Energy News Roundup: Hedges Insulate US Oil Producers, Energy Infrastructure Attack in 2015? And Bearish Oil Market Fundamentals Persist
By Jared Anderson
Many large US oil producers have oil price hedges in place through the beginning of 2015 or for the entire year that are helping blunt the impact of lower oil prices. Some companies may be able to cash in on well positioned hedges and use the funds to purchase new positions that can help weather… Keep reading →
The suggestion that ISIS-related militants could team up with Mexican drug cartels to disable the US power grid for an extended period of time seems a bit alarmist, but worth noting, particularly in light of 2 recent substation attacks in California. US power grid vulnerability, be it from cyber attack or direct assault, has been… Keep reading →
Energy News Roundup: Cyber Attacks Hit Energy Firms, Devon Sells $2.3 Billion in Non-core Assets & Opec Output Boost
By 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 →
Bill to Address Grid Threats and Vulnerabilities
By Energy Solutions Forum
The GRID Act, introduced in the House and Senate, would authorize FERC to effectively address electricity grid security issues. On March 26, 2014, Rep. Henry A. Waxman (D-CA) introduced the Grid Reliability and Infrastructure Defense (GRID) Act (H.R. 4298) aimed to amend the Federal Power Act to protect the bulk-power system and defense-critical electric infrastructure… Keep reading →
The Battle for FERC and the Future of Energy Security
By Jack Schmitt, Zach Roberts and Jonathan Gensler
The failed nomination of Ron Binz to be the Chairman of the Federal Energy Regulatory Commission, which was formalized with his withdrawal from consideration last month, was unprecedented in Washington. The role of FERC has never been the subject of public of political interest – and I’d argue that few people (in Congress or otherwise)… Keep reading →
Ken Silverstein does a nice overview of the debate about whether natural gas helps or hurts climate change mitigation efforts. US carbon dioxide emissions are down, but “inexpensive [natural gas] deposits coupled with the relative ease of building new gas plants has come at a price — the foregoing of other fuels.” [Forbes] Large energy… Keep reading →
Quick Take: Do you remember the stories that used to circulate about building a nuclear bomb from instructions on the Internet? I’m starting to feel that terrorists could bring down the grid by reading stories on the Internet. Every week we get details about another vulnerability. Here’s the latest gambit receiving widespread attention. My advice… Keep reading →
