As long as they are investing in the oil exploration and refinery capacity improvements I’ve been reading about, I don’t have a problem with it.
http://www.msnbc.msn.com/id/14678206/
Massive oil profits are a self solving problem. I know I’ve discussed this before, but lets go again.
They get huge profits when supply is down and demand is up, which allows them to search for oil in previously “unsearchable” areas. They were unsearchable before because oil was cheap and it wasn’t cost effective to search 4 miles deep in the gulf for example. But as they find more oil, supply goes up, cost goes down, profits go down.
But, if the new finds are in places that aren’t big on Mohammed, it’s extra good news.