At about the same time, Charles Coffin, leading Thomson-Houston Electric Company, acquired a number of competitors and gained access to their key patents. General Electric was formed by the 1892 merger of Edison General Electric Company of Schenectady, New York, and Thomson-Houston Electric Company of Lynn, Massachusetts, with the help of Drexel, Morgan & Co. Jeffrey Immelt is the chairman of the board and chief executive officer of GE. He was selected by GE's Board of Directors in 2000 to replace Jack Welch following his retirement. Previously, Immelt had headed GE's Medical Systems division (now GE Healthcare) as its President and CEO. GE's divisions include GE Capital, GE Power & Water, GE Oil
In 1984, Gulf Oil and Socal merged and because of the antitrust regulation, Socal divested many of Gulf’s operating subsidiaries, and some Gulf refinery and stations in the eastern U.S. Socal know was named as Chevron Corporation. After 2000, Chevron has acquired many companies such as Texaco, Unocol Corporation and Atlas Energy expanding its energy domains in oil, gas and geothermal areas. Chevron employs around 62,000 people worldwide, half of them in the U.S. It has a marketing network in 84 countries and owns the “Standard Oil” trademark. This company has made many strategic alliances for gasoline for testing vehicles with General Motors, Toyota and ford.
US Steel – Andrew Carnegie sold Carnegie Steel in 1900 to a new steel corporation headed by JP Morgan US Steel. First billion dollar company, largest company in the world, owned over 3/5 of the nation’s steel industry 7. Federal Government Aid to RRs – Federal gov’t provided RR companies with huge loans and land grants (170+ acres of land), helped build a transcontinental RR during Civil War (Union Pacific + Central Pacific = Promontory Point), 4 other transcontinental RRs built. Panic of 1893 JP Morgan consolidated smaller RRs into large companies, essentially eliminated competition in RR industry 8. Andrew Carnegie and his Theories of Wealth – “Wealth” – essay arguing the wealth had a god given responsibility to care out charity to benefit society, put over $350M into support for libraries, universities, and other public institutions 9.
Keystone XL Pipeline The Keystone oil pipeline system is designed to carry up to 830,000 barrels of petroleum per day from the oil sands of boreal forests in western Canada to oil refineries and ports on the Gulf Coast. About half of the system is already built, including a pipeline that runs east from Alberta and south through North Dakota, South Dakota and Nebraska. The State Department is now reviewing a proposed 1,179-mile addition to the pipeline, the Keystone XL, a shortcut that would start in Hardisty, Alberta, and diagonally bisect Montana, South Dakota and Nebraska. From Steele City, Neb., the addition would connect to existing pipelines to the Gulf Coast. The Canadian company TransCanada initially proposed the pipeline in 2005 and applied to the State Department for a construction permit in 2008.
PacifiCorp was purchased from their “parent” company Scottish Power plc. PacifiCorp was created in 1984. They provide electricity to citizens throughout California, Oregon, Idaho, Utah, Washington, and Wyoming. Warren Buffett was looking to expand Berkshire Hathaway’s interests more deeply in the energy field. After all was said and done, MidAmerican ended up purchasing PacifiCorp from Scottish Power plc for $5.1 billion in cash and $4.3 billion in liabilities and preferred stock.
Fracking is a procedure that has been around as early as 1947. What started as an experiment to obtain more natural gas ended up being a successful operation and has spread worldwide. Natural gas is our number one domestic energy source that fuels basic necessities that we use every day, including; vehicles, heating, cooking, and general electricity. As of 2012, 2.5 million fracking operations have been performed worldwide. Out of those procedures over one million were produced in the United States.
1984- Toxic fumes leaking from pesticide plant in Bhopal, India, kill at least 6,000 people and injured 50,000-60,000. 1985- Scientists discover annual seasonal thinning of the ozone layer above Antarctica. 1986- Explosion of Chernobyl nuclear power plant in Ukraine. 1987- Montreal protocol to have emissions of ozone-depleting CFC’s signed by 24 countries. 1990- National Environmental Education Act authorizes funding of environmental education programs at elementary and secondary school level.
Riordan Compliance Plan Law/531 Business Law Kristine Honkus Laurie Wicker December 16, 2012 Company Overview Riordan Manufacturing found by Dr. Riordan, a chemistry professor, who had obtained several patents relative to processing polymers into high tensile strength plastic substrates (University of Phoenix, 2012). Dr. Rriordan realized there was commercial need for patents. So, he began Riordan Plastic, Inc., in 1991. Today, Riordan Manufacturing works in the global plastic market and employs 550 people. The company annual income is $46 million.
Today, the world boast some 435 commercial nuclear power plants in 31 countries, with approximately 70 still under construction, supplying almost 11.5 percent of the world’s electricity needs. Currently, sixteen countries uses nuclear energy to generate at least one quarter of their electricity. It is also noted that South Korea and Bulgaria depends on nuclear energy for power, generating more than thirty percent of their energy consumption. (World Nuclear Association,
The oil industry began with the discovery of the Spindletop Geyser and led to over 1,000 oil companies in less than a year. Prior to the oil boom in East Texas in 1901 Pennsylvania was responsible for nearly half of the world’s oil production. (The Paleontological Research Institution, http://www.priweb.org/ed/pgws/history /pennsylvania/pennsylvania2.html) To explain how the oil boom effects our current society I will explain what America would be like without domestic oil. 36% of the oil in America comes from domestic sources. ( U.S. Energy Information Administration