Recently acquired Baker Hughes at risk of GE disposal to focus on RENEWABLES!

In July 2017 GE was the proud owner (well 62.5%) of one of the world’s largest oil services company,  Baker Hughes, which is headquartered in Houston. GE thought they were getting a good deal in merging Baker Hughes with “their” oil and gas division.

Per the Houston Chronicle GE wanted “…to create an energy services giant to rival Halliburton for the position as the world’s second-largest services company after Schlumberger. Not coincidentally, the deal came after Halliburton’s planned takeover of Baker Hughes collapsed last year amid antitrust concerns. GE swooped in when that merger fell apart“.

Because GE has lost $100B in market value in 2017, they are focusing in on ….

ge fracks Baker Hughes

…three of its core businesses: aviation, healthcare, and….(not DEEPFRAC) power.

ge power

Sure looks like wind turbines to me?

So how good of a deal will the fire sale (pun intended) for Baker Hughes be for the next swooper-upper? My prediction is it will be a foreign (Egyptian? or Total/French?) based company owning them….aahhm, U.S.

 

About Kim Triolo Feil

Since TX Statute 253.005 forbids drilling in heavily settled municipalities, I unsuccessfully ran for City Council Seat to try to enforce this. Since Urban Drilling, our drinking water has almost tripled for TTHM's. Before moving to Arlington in 1990, I lived in Norco’s “cancer alley”, a refinery town. It was only after Urban Drilling in Arlington did I start having health effects. After our drill site was established closest to my home, the chronic nosebleeds started. I know there are more canaries here in Arlington having reactions to our industrialized airshed (we have 55-60 padsites of gas wells). Come forward and report to me those having health issues especially if you live to the north/northwest of a drill site so I can map your health effects on this blog. My youtube account is KimFeilGood. FAIR USE NOTICE: THIS SITE MAY CONTAIN COPYRIGHTED MATERIAL THE USE OF WHICH HAS NOT ALWAYS BEEN SPECIFICALLY AUTHORIZED BY THE COPYRIGHT OWNER. MATERIAL FROM DIVERSE AND SOMETIMES TEMPORARY SOURCES IS BEING MADE AVAILABLE IN A PERMANENT UNIFIED MANNER, AS PART OF AN EFFORT TO ADVANCE UNDERSTANDING OF THE SOCIAL JUSTICE ISSUES ASSOCIATED WITH EMINENT DOMAIN AND THE PRIVATIZATION OF PUBLIC INFRASTRUCTURE (AMONG OTHER THINGS). IT IS BELIEVED THAT THIS IS A 'FAIR USE' OF THE INFORMATION AS ALLOWED UNDER SECTION 107 OF THE US COPYRIGHT LAW. IN ACCORDANCE WITH TITLE 17 USC SECTION 107, THE SITE IS MAINTAINED WITHOUT PROFIT FOR THOSE WHO ACCESS IT FOR RESEARCH AND EDUCATIONAL PURPOSES. FOR MORE INFORMATION, SEE: HTTP://WWW.LAW.CORNELL.EDU/ TO USE MATERIAL REPRODUCED ON THIS SITE FOR PURPOSES THAT GO BEYOND 'FAIR USE', PERMISSION IS REQUIRED FROM THE COPYRIGHT OWNER INDICATED WITH A NAME AND INTERNET LINK AT THE END OF EACH ITEM. (NOTE: THE TEXT OF THIS NOTICE WAS ALSO LIFTED FROM CORRIDORNEWS.BLOGSPOT.COM)
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