OIL CO BUYS GEOTHERMAL

Schlumberger's Geothermal Signpost
Dave Forest, April 28, 2010 (Pierce Points Daily Newsletter via Before It’s News)

"…[Signpost events] are happenings, often small in and of themselves, which suggest a larger change rippling through the ether of a business, industry or nation.

"There have been a number of signpost events in the geothermal sector recently…[like] the emerging trend of advanced-stage geothermal projects being bought by major players in the sector such as Ormat."

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"Yesterday… came another…[with] oil-field services major Schlumberger buying out California-based GeothermEx… one of the top groups in the geothermal space doing project feasibility assessments. They have written reports on most of the major geothermal projects in the U.S. and abroad. The group will now become a wholly-owned subsidiary of Schlumberger."

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"The acquisition is an aggressive move by Schlumberger into the geothermal space. The company sees something they like…and they want to be a big part of it.

"This is just one more indication that the geothermal business is 'ready for prime time'. Profitability in the sector is increasing, in large part due to recent tax incentives introduced by the U.S. government…Increased profitability always drives an industry forward…[T]he drive is definitely on for geothermal…"