Most good Google stories come with an element of mystery. This one is no different. Speaking at the Zeitgeist conference, Google CEO Eric Schmidt hinted to attendees that the company has big plans for using the social networking juggernaut to improve its search capabilities.

According to a New York Times report, Schmidt called social networking a "very real phenomenon," adding that "people don't appreciate how many page views on the internet are social networks."

Schmidt's appreciation for social networks stands in contrast to recent remarks made by his counterpart at Microsoft. Earlier this month, Microsoft CEO Steve Ballmer slammed Facebook, calling social networks a "fad."

According to Schmidt, information gleamed from social networks about connections between users will help Google improve search. But to do that, Google will need more access in the social network space. The company already has Orkut and the search giant sells ads for MySpace. But that didn't stop Schmidt from saying that Google also wants to land the Facebook account, which currently belongs to Microsoft.