Exxon’s earnings up 69% to $11 billion

Exxon earned nearly $11 billion in the first quarter, a performance likely to land it in the center of the national debate over high gasoline prices.

The world's largest publicly traded company said Thursday that higher oil prices boosted profits 69 percent from a year ago. The result was Exxon's best since earning a record $14.83 billion in 2008's third quarter.

Wall Street had been expecting sharply higher earnings for oil companies. Oil prices rose 17 percent in the quarter. But huge oil profits will aggravate drivers with gasoline prices averaging $3.89 a gallon nationally. President Obama wants …