Escalation or ecstasy???? Katrina? The Iraq war? What really is driving up oil prices? Try Oil exec's wallets. I'm really steamed about this one. I read today that Exxon Oil posted a quarterly profit of 10 billion dollars which is the single largest quarterly profit in the history of American companies. It must be rough dealing with the natural disasters, the Iraq war and the like while they pocket 10 billion bucks! Good grief.