"With oil prices showing no signs of slowing, oil companies are enjoying highly lucrative years. Last year, ExxonMobil reported a profit of over $25 billion, breaking all previous records. Profits were up for other oil companies as well, including Shell with $18.54 billion, ConocoPhillips with $15.7 billion, BP with $15.7 billion, and ChevronTexaco with $13.3 billion. Second quarter 2005 profit figures show that the trend continued in 2005. Profits were between a third and a half higher than during the same period last year. Exxon has already made $7.6 billion this year, BP $6.7 billion, and Shell just over $5 billion. High profits also padded oil executives' pay with an average raise of 109 percent in 2004, according to The Wall Street Journal. The average oil executive received total compensation of $17 million in 2004."
