GE to buy oil pump maker Lufkin for nearly $3 billion

    By Ernest Scheyder     General Electric Co is buying oilfield pump maker Lufkin Industries Inc for $2.98 billion, sharply increasing its presence in the fast-growing market to extract oil and natural gas from shale rock, the conglomerate said on Monday.     Lufkin's pumps, also known as artificial lift products, are commonly seen seesawing back...