Big Oil Companies Just Doubled Their Earnings — Here's Why!
Imagine checking your piggy bank and finding twice as much money as you had last year. That is pretty much what giant oil companies just experienced!
Big energy companies that pump oil and gas out of the ground have shared their newest financial report cards, known as quarterly earnings. Giant company Shell announced that its earnings nearly doubled compared to the same time last year! That makes this one of their most profitable seasons in several years.
Why did their treasure chests fill up so quickly? The price of energy around the world shifts whenever global events, shipping changes, or political shifts take place. When gas and fuel stay expensive, the companies selling them can collect massive piles of money.
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Based on reporting by CleanTechnica.