There is a reason that legendary investor Warren Buffett owns shares of major oil firms such as ExxonMobil (NYSE: XOM), ConocoPhillips (NYSE: COP), and Suncor Energy (NYSE: SU) (chart  below), among others.

That was shown in the strong employment numbers just released by the United States Department of Labor.

The United States just added 288,000 jobs for the month of June.  That brings the American unemployment rate down to 6.1 percent, which is at its lowest level since The Great Recession.  Both the Dow Jones Industrial Average (NYSE: DIA) and the Standard & Poor’s 500 Index (NYSE: SPY) are up today as a result.  The stock market is in record territory.

Economic growth like that increases the demand for oil and natural gas.

That is why ExxonMobil, ConocoPhillips, Suncor Energy and other major oil stocks have done so well.   ExxonMobil is up more than 15 percent for the last year of market action.  Over the same period, ConocoPhillips has risen nearly 45 percent.  For the last year, Suncor Energy is soared almost 50 percent in trading.

The future is solid for Big Oil stocks, as detailed in many previous articles on this site.

There will not be soaring growth.  But there will be strong, steady growth.  Combined with the solid dividend yields of major oil firms that will be appealing to investors.  That is especially true with the tension around the world.  The tradition of many oil companies in increasing the amount of the dividend yearly is also very alluring.

Any positive news is bullish for major oil companies.

That contributes to economic growth.  To fuel that economic growth requires large amounts of oil and natural gas, which leads to burgeoning earnings for companies such as Suncor Energy, ExxonMobil, ConocoPhillips, and others.  It also leads to investors like Warren Buffet buying oil stocks for the long term due to the many appealing features.