Any way to dump IE Favorites as an HTML file?

I use IE 7 and so, of course, have this unwieldy directory structure where Windows stores my Favorites links as .url file links. It doesn’t seem straightforward to try to extract the URL from one of these links programmatically.

I want to take my Favorites folder and turn it into an HTML file of links that I can then do other stuff with, like maybe post to my web site so my Favorites are portable, stuff like that.

Possible?

Go to File > Import and Export. Then follow the Wizard to export your Favorites. At some point it will give you the option to export to either another browser or to a file/address. Choose the latter and click Browse to choose the filename and save location.