Life's great if you're part of the 1 percent in the oil industry.
Exxon Mobil:
NEW YORK (CNNMoney) -- Exxon Mobil reported quarterly earnings of $10.3 billion on Thursday, a surge of 41% from a year earlier.
Why? Higher prices for oil and natural gas.
Profit at the oil company soared compared to the same period a year ago, when it was $7.4 billion. Per-share income climbed to $2.13 per share from $1.44 in the prior year.
Shell:
LONDON—Royal Dutch Shell PLC Thursday said net profit for the third quarter more than doubled, driven by strong oil and rising natural gas prices and as major projects ramp up production.
Net profit for the quarter totaled $6.98 billion, more than double the $3.46 billion posted a year ago. Group revenue was $123.41 billion, compared with $90.71 billion in the third quarter of 2010.
Well, that's just bully for them. Of course, they had some help getting there. Think Progress unpacks these numbers.
But they're job creators, right? So the $40 billion they're sucking out of treasury for the next 10 years is all good.