Over the years, cybersecurity threats have been an issue that affects the individual business and economy at large. The economy has suffered a massive loss of money as well as personal information in the hands of hackers hence forcing the government to come up with a security system that can help protect the economy. Various groups such as homeland security officials are working on law enforcement that is meant to safeguard pipeline and gas industries. To end the effects of these threats completely, the government should implement diversity and commonality within the economy. This essay will focus on the impacts of cybersecurity threats and how the implementation of commonality and diversity will help mitigate them.
The threats result in a loss of electric generating capacity of the pipeline and gas industries. The losses could exceed the electric reserves that are available for the compensation of the losses caused. This is as dangerous to our economy as some regions that do not have an alternative source of electricity will suffer. As a result, there will low production in these regions that have adverse effects on the economy such as loss of revenues as well as unemployment. To some extent, low gas pressure caused could force the power plants to burn through emergency fuel which can result in environmental pollution.
Interruptions brought by the threats can result in damages to people and property among other things that exist in the economy.Treatment of people and repairs to damaged property might take a long time to be solved resulting in delays in the economy. These effects have more impacts in large business than small ones as much of their information are kept online. All these problems result from the connection on the internet which ones disrupted; most companies lose a lot of information. The disruptions also destroy gas transmission lines hence causing a gas shortage in the economy due to poor communication.
To mitigate these problems, the government should have supervisory control and data acquisition system. This will help in regular checkup in the overall network health of the economy. Similarly, the government should come up with an automated device and control system that ensure that the interconnection in the industry is secure. As a result, there will be efficient and proper transmission and distribution of gas and oil in the economy. Lastly, the implementation of a cyber emergency response team will help counter these threats. The team will check the vulnerabilities on a subsequent basis and correct any gap identified for maximum security protection.
Conclusively, cybersecurity threats have adverse effects in the economy that requires implementation of diversity and commonality to help curb the risks. The result effects in the economy have led to the loss of revenue as well as jobs. This comes as a result of reduced gas transmission and distribution especially when the attack results in the gas transmission line disruption. To curb the effects of these threats, the government should come up with programs that secure the economy to prevent the cyber-attacks. Implementation of systems such as supervisory control and data acquisition system and automated control system will help protect the pipeline and gas industry and the economy at large. These systems will assist in the overall checkup for the health of the network to correct all the vulnerabilities that can pose a threat to the economy.
Blake, S., Hannah, N., & Peter, B. (2017). Security: Cyber raises the threat against America’s energy backbone. E & E News. Retrieved from www.eenews.net/stories/1060054924
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