I suppose you guys have heard about the record Exxon profits?

If you haven’t hears the basics:

Exxon profits hit a record $36 billion last year.

“Exxon Mobil Corp. posted a profit of $36 billion on sales of $371 billion for 2005, making it the best year the energy company has ever had.

In fact, Exxon Mobil’s massive year-end earnings make it the most profitable year on record for any company in U.S. history […] thrilling many analysts and investors and outraging some consumer advocates. […] ‘No oil company should be allowed to reap world record profits from one of the nation’s worst natural disasters,” FTRC President Jamie Court said.’ ”

The reason the profits have gone up is because is costs that much more to produce oil.

“1. Exxon Mobil doesn’t set the price of oil, the world market does. They’re just cashing in. That price is determined by supply and demand, and nothing else. Sorry. If you want oil to be cheaper, you have to drill for more of it, bring to market and drive down the price.

2. The oil companies are doing what they’re supposed to. It is the function of a public corporation to make as much money as possible for its shareholders.

3. If we expect to drill for more oil…and refine more gasoline…where do people think the money to do that will come from? Reinvested oil company profits, that’s where. Somebody has to pay for exploration.” -Neal Boortz