Pumping our portfolios
Within a few days this week to another, Exxon Mobil said it earned $ 8 billion in the first quarter and ConocoPhillips said its net income for the same period was $ 3.29 billion.
For ExxonMobil, the largest of the three, he was the fifth largest quarterly profit for each public company in history. And he came on the heels of a fourth quarter was the result of 10.71 billion dollars, the highest earnings per quarter for a company of public law.
But there was a time when the activity was not gusher.
You see oil companies on a return to oil and gas, investments of the last 10 years, which are smaller than the Standard & Poor’s Industrials, share index, composed of 500 large companies selected individually.
Professor of Economics at Smith Barton began to buy stocks of energy in the autumn of 2002, betting oil companies would rebound after several years of turbulence in the years 1990.
It could buy shares of small companies for the exploration of 5 cents or 10 cents on the dollar.
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