This is what those skirmishes in the Middle East have really been about ...
SAN RAMON, Calif. -- Chevron Corp. said Friday its first-quarter net income rose 36 percent, the latest in a string of strong earnings from the major oil companies.
Chevron sold its oil for an average price of $89 per barrel in the last quarter, compared with $71 a year ago. That led to a $1.25 billion increase in profit from exploring for and producing oil. Refining profits also improved.