Globalization

Growing the grid: KeySpan buy just the start

National Grid’s $7.3 billion takeover of KeySpan Corp. is only the beginning of what could be another big round of consolidations within the Northeast’s natural-gas and electric industries, officials said yesterday.
“Yes, we do,” said Michael E. Jesanis, chief executive of National Grid USA, when asked whether the British-owned electric and natural-gas company intends to buy more utilities in the region.
Jesanis, whose company only last week purchased the owner of Rhode Island’s New England Gas Co., declined to say what companies National Grid might be eyeing.

Here is the same situation as the Dubai Ports World deal, but with power companies. This is how foriegn companiies come into America and takes over local businesses and take our money out of our country. Remember this also puts them in a position to lobby the government because their business is a tax payer. They also can exert influence over local business and neighborhoods. We need to keep these resources in US hands.