Does 1 Corinthians 8 teach that there are many gods?

Are there many lords and many gods, but only one God “for us”? This tends to be the teaching of many Latter-day Saints—especially concerning 1 Corinthians 8:5-6, which says,

“For although there may be so-called gods in heaven or on earth—as indeed there are many “gods” and many “lords”—yet for us there is one God, the Father, from whom are all things and for whom we exist, and one Lord, Jesus Christ, through whom are all things and through whom we exist”

Does Paul mean to indicate that there are a whole host of exalted beings, but only one God that we worship? I don’t think so. In this video, I explain why 1 Corinthians 8:5-6 can’t be used to support the LDS notion of exaltation or a plurality of gods. That idea is totally foreign to the Bible, and Mormons really can’t use this verse to try and prove that point.

God, on numerous occasions and in a number of different spots in the Bible, clearly indicates that there is no God besides Him. There only ever has been, and only ever WILL be, One Creator God.