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As most of you LCs (and the Denizens too, if you’ve ever bothered to read the Rott) have figured out by now, Emperor Misha & I pretty much see eye-to-eye on a lot of stuff.

But there are&#160 a few things where we’re not quite on the same page (not that that’s a bad thing).&#160 One area is the high gas prices, and the reasons for same.

Drudge reported today about the retirement package given retiring ExxonMobil CEO Lee Raymond, and Misha was last seen growling snarling commenting on it here.

(NOTE:&#160 The Drudge headline had reported $400 million – no idea why.)

Misha, as is his wont and absolute right, vented about it.

It’s good to know that somebody at least are getting to enjoy the benefits of gouging gas prices because, heaven knows, $170 million isn’t hardly anything when you have to pay for all and sundry and it’s not like he hasn’t put in the years of hard work for it. G-d only knows how many falafels the poor man has had to share with oil ticks over the years.

Thankfully, Exxon won’t be going bankrupt because of this golden parachute, considering how they made about $36 billion last year profiteering off of the fact that we’re at war, so it’s not like they can’t afford it.

Hm.&#160 Let’s take a moment and examine.

True, ExxonMobil made $36 billion in profits last year.&#160 Quite the haul for the Irving-based oil conglomerate.

Until you see what they made it off of:&#160 $360 billion in sales & other operating income (page 4, requires Acrobat reader).

10 cents on the dollar, while good & healthy, is not excessive.&#160 I sell a paper for a buck, I keep 10 cents.&#160 That’s all Exxon’s doing.

It’s not ExxonMobil that’s determining high oil prices.&#160 It’s OPEC (and to a good extent, Venezuela as well).&#160 All ExxonMobil (and ChevronTexaco, and Valero, and BP, and Shell, and Standard, and Citgo, et. al.) are doing is paying the price that’s been set.

(There are other factors, too, such as too few refineries in the United States; Demoscum who won’t let us drill in ANWR, Kalifornication or Teddy the Red-Nosed Senator’s backyard and China’s increased demand for the stuff – but those are other topics for other posts.)

Now maybe Raymond’s retirement package is a little high, whether it be $400 million or some lower figure.&#160 There are two groups of folks watching ExxonMobil:&#160 their shareholders, and the SEC.&#160 If ExxonMobil is doing anything that’s not kosher, I anticipate it’ll get discovered pretty quickly.&#160 The days of Enron-style cooking the books are pretty much over, I’d think.

UPDATE:&#160 Denizen and LC Humble Devildog informs us that Venezuela is actually a part of OPEC.

S’pose I should’ve known that, but didn’t for whatever reason.