Middle East Economic Survey

VOL. XLVIII

No 49

5-December-2005

OIL PRICES

Energy Prices And Corporate Profits

By Lee Raymond

The following is the testimony of Lee Raymond, Chairman and CEO of ExxonMobil, before a joint hearing of the Senate Committees on Energy and Natural Resources and Commerce, Science and Transportation on energy prices and corporate profits. Four other oil company executives testified before the committees.

The increases in energy prices following Hurricanes Katrina and Rita have...