Money Morning Mailbag: Rising Global Energy Demand Is Providing Key Investor Opportunities
October 29, 2010 at 06:00 AM EDT
Energy companies reported robust third-quarter profits this week in another sign that rising global energy demand is something investors can't afford to ignore. Exxon Mobil Corp. (NYSE: XOM ) reported yesterday (Thursday) its third-quarter net income rose 55% from a year earlier to $7.35 billion, or $1.44 a share - the biggest jump in six years. Royal Dutch Shell PLC (NYSE ADR: RDS.A , RDS.B ) reported its third-quarter profit rose 18% from the year before, noting it's in a "delivery window for new growth," and ConocoPhillips (NYSE: COP ) said its third-quarter profit more than doubled. " Global oil demand implications have continued to surprise to the upside, " Barclays Plc (NYSE ADR: BCS ) analysts wrote in an Oct. 20 note to clients. Money Morning Chief Investment Strategist Keith Fitz-Gerald addressed the importance of energy industry investing earlier this week on a Fox Business Network appearance.
