A highlight from Pipeline companies are trying to avoid regulation, despite major hack


Than eleven thousand gas stations across the southeast. Remain out of gas panic. Buying has drained over half the stations in north carolina and nearly seventy percent of the pumps in washington. Dc this comes. Five days after the colonial pipeline resumed operations after a ransomware hack forced shutdown tomorrow congress will launch a pipeline security bill to prevent future outages. But critics say. It's still missing. Some major safeguards marketplace's scott. Tong kicks us off when something goes wrong with the pipeline like the colonial pipeline hack companies. Do not have to tell the government electricity companies to and if there's a plane incident airlines have to open up the government. Investigators says rob kentucky is a former top cybersecurity as to president obama. They will be doing everything they could to understand what happened. And then they would rapidly sharing that information with other airlines so those airlines could prevent the same thing from happening to that. That's not at all what's happening with this pipeline incident instead. It's a volunteer system of protecting data and sharing information. There are no government mandates or fines just recommendations in the bill in congress would keep it that way thing is a recent survey of pipeline companies. Found that just eight percent actively share information with the rest of the industry and the government that's a woefully low number indie lee at the law firm jones walker. Did this survey. There's not enough charity. And there are too few sticks to ensure that our pipeline industry stakeholders are actively engaging in the budget fan to make sure that they are say. This isn't a new fight nine years ago. Oil and gas lobbyists fought off mandatory rules and now energy trade groups are again. Seeing the industry should oversee itself mark weatherford is dubious strategy head at the national cyber security center which advises government officials. I am not a fan of regulation. And i hate to say this. But you know it's been proven over and over again. That companies are simply not going to self regulate when the public safety is at stake. He says the government needs a bigger role in washington. I'm scott tong for marketplace. Big media news today. At and t. And discovery announced they're forming a new company made up of their entertainment news and sports. The spin off will put. Hbo cnn tbs under the same roof as the discovery channel hdtv and the food network eighteen t get some ownership in the new content giant and also gets out from under that eighty five billion dollar acquisition of time warner back in twenty sixteen marketplace's justin who has more on what's driving the steel. At and t. has a lot going on. In addition to its media business. The companies in the middle of rolling out a nationwide five g network and fibre broadband. It's also competing for wireless phone. Subscribers each of those is an expensive proposition so for. at and t. They just didn't have the money to fight three wars at once. Craig moffett is the founder of the research outfit moffitt nathanson. Meanwhile he says discovery is trying to boost its own programming with the new streaming service called discovery plus. But i think it's pretty clear that's not large enough on. Its own to be fully competitive with disney and netflix going forward. Disney and net are pouring billions of dollars into new content this year in order to learn new streaming subscribers. Jeffrey cole directs the center for the digital future at usc. If at and t. And discovery wanna compete. He says the only answer is to put billions into content. And i think you need a massive economic engine to do that which the merged company would have says analyst. Jim nail with forester research combining. At and t. Offerings like hbo and cnn with discovery content like hgtv in the food network. He says there's something for everybody so that may be a good justification for household. Spend whatever they're going to price it that he says one. Big challenge will be marketing the company and convincing users to sign up for yet another streaming service. I'm justin how for marketplace on wall street today. elon. Musk and bitcoin are having a super messy breakup on twitter and it is some investment drama

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