Thursday, January 27, 2011

Everywhere But New York

As the demand for 'fracking' continues to grow, oilfield services companies like Baker Hughes, Haliburton, and Schlumberger are struggling to keep up with the demand. Baker Hughes reportedly earned $335 million in the 4th quarter of 2010, a sharp rise compared to the $85 million they earned for the same period in 2009. This heightened demand for fracking is not just in the U.S. either. It's spreading internationally as more and more countries all over the world hope that their own shale formations will offer them the promise of a home-grown energy supply.

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