Earlier this week, officials from six major oil companies refused to testify at a Senate hearing looking into whether oil industry mergers in recent years have made gasoline more expensive at the pump. The inquiry does not come at a good time for oil executives, especially after Exxon Mobil reported on Monday that it earned a record $10.7 billion in the fourth quarter of last year and $36.1 billion for 2005. The annual net profit of Exxon Mobil is now shockingly larger than the economies of 125 countries. To give a better handle on the magnitude of Exxon’s earnings, let us take a look at the breakdown of its earnings report. Exxon reported earnings of over $10 billion, an increase of 23%, net income of $10.7 billion and positive cash flow from operations and asset sales which totaled approximately $11.9 billion. Overall, earnings were $1.65 per share, an increase of 27%. To read the rest, click here .