Multiyear Plan for Energy Sector Cybersecurity
Comment of the Day

June 01 2018

Commentary by Eoin Treacy

Multiyear Plan for Energy Sector Cybersecurity

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Anticipating and reacting to the latest cyber threat is a ceaseless endeavor that requires ever more resources and manpower. This approach to cybersecurity is not efficient, effective, nor sustainable in light of escalating cyber threat capabilities. We must recognize today’s realities: resources are limited, and cyber threats continue to outpace our best defenses. To gain the upper hand, we need to pursue disruptive changes in cyber risk management practices.

DOE’s cyber strategy is two-fold: strengthen today’s energy delivery systems by working with our partners to address growing threats and promote continuous improvement, and develop game-changing solutions that will create inherently secure, resilient, and self-defending energy systems for tomorrow. 

Meaningful public-private partnership is foundational to DOE’s strategy. Facing an ever-evolving threat landscape requires a coordinated approach to improving risk management capabilities, information sharing, and incident response. The federal government has also historically funded innovative research, development, and demonstration (RD&D) that cannot be economically justified in private-sector markets. Today, this includes game-changing RD&D that will build cyber resilience into energy systems for tomorrow.

Eoin Treacy's view

The increasingly connected nature of the global economy, together with the modernisation of IT structures in key pieces of industrial and utility infrastructure has introduced risk premia that never existed before. A decade ago no one would have given credence to the view that a hospital could be shut down remotely or that police departments could be held hostage, yet that is exactly what has happened in the last 18 months. Securing energy infrastructure is even more important now that the US is an exporter of oil and gas and because of rising geopolitical tensions.

SAIC is both a defensive and offensive US government cybersecurity contractor. The share has been ranging below $90 for more than a year but has returned to retest that level and a sustained move above it would reassert medium-term demand dominance.

Booz Allen Hamilton is also a US government contractor and it broke out, completing its almost two-year range, earlier this month.

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