Exxon sees highest profits in World History

It is being reported that Exxon has posted record profits not merely for itself, but for ANY United States company in history. This quote from the article puts the issue particularly in scale.

To put that into perspective, Exxon's revenue for the year exceeded Saudi Arabia's estimated 2005 gross domestic product of $340.5 billion, according to statistics maintained by the Central Intelligence Agency.

Exxon is defending their profits as entirely in line with the amount they invested this past year. But one has to wonder how many of the spikes in the price of gasoline artificially inflated these figures. I remember the guy in New York City who refused to raise his prices as required by the parent company, who then had his company seized and liquidated.

I am sure that Exxon's execs have their own point. But this is particularly bad timing for such a HUGE winfall. This, more than anything else, is likely to push anti-oil congressmen to call for a "windfall tax" against oil manufacturers, which we all know will simply drive up the price of gasoline for the rest of us.

When will we enter an era of CEOs who can think beyond the next quarterly revenue sheet, and understand the political and social ramifications of their decisions?!