Record Profits for Oil Companies-Why?

In light of the damage wrought by Hurricane Katrina, many people across the nation are only immediately dealing with gasoline prices. Folks have been wondering why oil producers are making record profits as gasoline skyrockets. It's not an easy answer, but luckily "Super G the Economist" over at The Oil Drum has summed it up pretty nicely in a question-and-answer format.

*Note: The above graphic is taken from the Department of Energy's Gasoline and Diesel Fuel Update site, which gives prices and more information than you'd care to know about where your fuel comes from.