Even with crude oil prices down below $62 per barrel (remember a time not too long ago when $60 per barrel was a record?), Big Oil is still raking in the profits. Even with commodity gas prices down in the first quarter of the year, oil companies posted large profits, thanks mostly to refining and marketing operations. And many Big Oil companies are eyeing more profits as the summer driving season approaches, along with scares of “$4 gas” and Americans’ penchant for doing nothing to reduce their fuel usage as gas prices soar.
If you are looking for potential growth in your investment portfolio, investing in Big Oil might be the ticket. However, it is worth noting that the biggest earner, ExxonMobile (XOM), offers a rather expensive stock price per share. And the company is proudly anti-green. If you are looking to support a company that is a little less hard on the environment, you might consider Chevron (CVX) or BP (BP). Or even invest in alternative energy. But if it returns you are interested, Exxon is probably your best choice.