Exxon pockets $15 billion in 3q profits on record oil prices

Exxon earned a billion dollars a week in profits during the third quarter of 2008 as oil prices peaked. Analysts expect that's coming down with the recession and weaker demand, but the company still plans to spend $25 billion a year through 2012 trying to find more oil. It needs to: Exxon stock is overpriced, relative to other oil companies, compared to its reserves, reports Bloomberg News. Story here, Exxon earnings here.