General Electric recently announced that it will invest $110 million dollars to develop a new research lab in Oklahoma City. The purpose of this lab is to develop new technology for the oil and gas business. According to GE’s CEO, GE’s fastest growing sector is oil in gas, up 57 percent since 2009. With these kinds of numbers, it’s no wonder GE is looking to get a piece of the up-and-coming technology pie.
One of the research issues GE plans to address is water use during fracking. Extensive water needs during fracking has always been a problem that puzzled me. If America is one of the most advance technological nations in the World, why can’t someone figure out how the reduce the use of water during the fracking process? Maybe the answer is that no one has really tried. Regardless, I am pleased to see a major company enter the space, and I’m excited to see the results.
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