GE to Bet Billions on Fracking Boom

by Alyssa Oursler | May 28, 2013 12:24 pm

GeneralElectric GE to Bet Billions on Fracking BoomIf you haven’t heard of fracking — the new boom of oil and gas drilling — you’ve likely heard of it now.

Why? Well, U.S. corporate behemoth General Electric (GE[1]) is investing billions of dollars in the oil and gas space, including technologies in the shale development.

In fact, some recent moves include “opening a new laboratory in Oklahoma, buying up related companies, and placing a big bet that cutting-edge science will improve profits for clients and reduce the environmental and health effects of the boom,” according to The Associated Press[2].

The overall bet totals around $15 billion in investments over the last few years.

As┬áMark Little, a senior vice president, explained: GE “likes the oil and gas base because we see the need for resources for a long time to come.”

  1. GE:
  2. according to The Associated Press:

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