Oil giant ExxonMobil announced on Thursday that it’s upping its spending plans, underscoring its commitment to oil and gas.

With more and more energy companies jumping aboard the green transition bandwagon, those that have stuck to fossil fuels look increasingly like dinosaurs. But here’s a newsflash: being a dinosaur can pay off. Naughty Exxon doubled down on old-fashioned fuels while its European competitors drifted toward renewables – and sky-high oil prices, kept aloft by the war in Ukraine, propelled the firm to record profit for two straight quarters. That helped send the irresistible bad boy’s shares up over 60% this year – far above better-behaved rivals like Shell and BP. And now Exxon, possibly encouraged by salivating investors, is doubling down yet again – quadrupling down, even. The firm plans to spend as much as $25 billion next year to meet global demand, up from $22 billion this year, as part of a wider bid to bring its oil and gas production to a record high by 2027.

Exxon might not be doing the planet any favors, but it’s just done its workers a solid: the oil giant’s giving US employees an average salary bump of 9%, higher than current US inflation. That’s in stark contrast to previously lucrative fields like tech and finance, which have been shedding employees at lightspeed. Better get those job applications ready…