Schlumberger are moving into alternative energy quicker than most people realize.
This means that core existing segments that are totally related to hydrocarbon exploration, extraction and development will be significantly ramped down sooner than you think. WG will be divested by Schlumberger within the next three years. Wireline will cease to exist, as will the other related segments. Schlumberger will move into a manufacturing and retail capacity for these alternative energy sources.
Yeah right, they can purchase tech real quick, and stpid manager jump in to destroy it.
suff, wa? uh do what ? suffused???? to overspread with, to cover, pervade, diffuse, to bathe, to flood.
oh, okay.
http://www.houstonchronicle.com/business/article/Is-Houston-missing-the-next-energy-wave-11812880.php#photo-13740261
From the Aug 13 Houston Chronicle,
City failing to draw new tech ventures for a world shifting from fossil fuels
To highlight -
… as the world shifts from fossil fuels to clean energy technologies….Houston has very few young companies incubating new technologies and very few large ones that conduct clean energy research here.
Houston not only lags technology centers such as Boston and Silicon Valley but also cities like New York, Chicago and Los Angeles - not to mention Austin and Lubbock, where most of Texas' clean tech startups are based and most of its wind research takes place.
The shift to clean energy, meanwhile, may be starting to accelerate, with breakthroughs like Tesla's $35,000 Model 3 electric car, and Volvo's decision to abandon conventional gas-powered engines by 2019. Rapid growth in wind and solar power…..are contributing to what Shell CEO Ben van Beurden predicted ……..
will be "lower forever" oil prices — bad news for Houston.
If trends toward clean technologies pick up more speed, as many analysts, researchers and even oil executives expect,…
…. Houston risks the kind of economic disruptions that rocked Detroit — where, in the 1970s, automakers left the market for fuel efficient vehicles to foreign competitors.
The reason for Houston’$ poor $howing in renewable energy i$n't a mystery: It has been a fo$$il fuel powerhouse for so long that the next generation of low-carbon energy hasn't been a priority.
Chevron's investment arm has backed renewable energy companies in Boston and Silicon Valley, but not in Houston, according to the venture capital data website Crunchbase.
BP Ventures has dozens of portfolio companies in California and the United Kingdom, but only one in Houston, and it makes acoustic technology for drilling oil wells.
Shell's year-old, $1.7 billion new energies unit, which includes biofuels, hydrogen, wind and solar, is mostly centered in San Francisco, London and Amsterdam.
Boston's Massachusetts Institute of Technology and Harvard spent a combined $1.9 billion on all research in 2015,
UCLA and Stanford, the powerhouse of Silicon Valley, spent more than $1 billion dollars.
Texas spends its research dollars in Austin and College Station, with the University of Texas and Texas A&M budgeting a combined $1.4 billion.
Houston's primary universities, Rice and the University of Houston, spent a combined $160 million. Most of the federal research dollars that Houston wins go to scientists at the Texas Medical Center.
Boston has perhaps the best known clean energy incubator, Greentown Labs, sponsored by major oil and power companies including Shell, Chevron, Air Liquide, and Engie.
I wish the article was accurate in fact the SPB Board are foolishly thinking it is a great time buy companies. They even a New Organization for "new ventures" .... how long to recover the spend on these organizations as they are all still falling down, taking the mother ship with it. Slb are market leaders unfortunately they are leaders now in there own demise. Bon voyage!
The auto manufacturers themselves are planning on a full electric or hybrid future. That's what they want to build and that platform integrates better with mass transit plans.
Borrow an electric car and drive it for a mile. You will see the future.
Ha Ha! So, it means BS
Ah! so reality is starting to sink in. Things are changing, as the guy from Shell said, there is a new normal. Coal industry took the first hit, now recently the coal-fired power plant worker took the hit and i am going to assume 2015 heralded in the beginning of a new diminished activity for hydro carbons. This is the new normal, look at SLB, HAL, WFT et al. The guys at the top know it, perhaps that's why they are fillin they pockets while the gettin is good and keaving not a scrap for you little man. Moral ? get outa H-town as soon as you can.
BS. Where is the source?