This column was originally published on RealMoney on Feb. 2 at 7:24 a.m. EST. It's being republished as a bonus for readers. For more information about subscribing to RealMoney, please click here.

We found out yesterday what happens when earnings peak in the oil patch, but the numbers are great anyway: The stocks go up.

When you get a magnificent quarter, as you

did yesterday with


(XOM) - Get Exxon Mobil Corporation Report

, but the earnings are down 4%, you would expect the growth hounds on the Street would run from it. Nope, they bought it.

They did the same to

Royal Dutch


, which, at last, is out of the doghouse because of its high replacement rate, although it is using tar sands in its calculations.

And they did the same to


(CVX) - Get Chevron Corporation Report


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even though it hadn't reported yet


These are all great signs for a group that has been viewed as finished. One of the reasons is that they are making


much money to ignore. They are buying back shares and paying dividends like mad.

Still, it is an amazing change, as very few groups have ever been able to resist the gravity of down earnings. This group is one of them.

At the time of publication, Cramer had no positions in the stocks mentioned.

Jim Cramer is a director and co-founder of He contributes daily market commentary for's sites and serves as an adviser to the company's CEO. Outside contributing columnists for and, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for

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