W-T-F Mate. Biggest drop in GDP in 27 years, and Exxon-Mobil & Chevron are posting record profits??

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So here's the front page of Reuters when I checked it today. I'm kind of a dork with this blogger so I don't know how to make this any bigger except by clicking on it.

Anybody see anything weird about this?

So we are seeing Gross Domestic Product (GDP) at it worse since 27 years ago...but a select few oil companies are posting records high this quarter.....Hm......

Here is an excerpt of the article from:

http://www.reuters.com/article/newsOne/idUSTRE50T3XT20090130?sp=true

Exxon, Chevron profits top view; refining strong
Fri Jan 30, 2009 3:06pm EST
By Anna Driver and Braden Reddall

HOUSTON/SAN FRANCISCO (Reuters) - Oil giants Exxon Mobil Corp and Chevron Corp posted higher-than-expected quarterly earnings on Friday as refining profits helped offset a steep decline in crude oil prices.
Exxon, the world's largest publicly traded company, said fourth-quarter earnings fell by a third, but full-year profit of $45.2 billion set a new company and U.S. record.
"The results speak for themselves," said Fred Burke, president of Johnston Lemon Asset Management in Washington, D.C. "I still think Exxon is a low-cost producer, and at some point the price of oil will increase. They are doing all the right things right now."
The sector has been hit hard by the twin blows of plunging energy prices and the credit crunch. But the financial depth of the top oil companies means they can spend through the slump, having learned a lesson from past cycles, when under-investment left them exposed once oil demand recovered.
Exxon's fourth-quarter net profit fell to $7.8 billion, or $1.55 per share, from $11.7 billion, or $2.13 per share, a year earlier. Analysts, on average, had expected $1.45 a share from the Irving, Texas-based giant, according to Reuters Estimates.
Sales fell 27 percent to $84.7 billion, but Exxon had $31 billion in cash at the end of the quarter.
The company will spend $7 billion buying back stock this quarter, down from $8 billion in the fourth quarter. Chevron, its nearest U.S. rival, said it would halt buybacks this quarter.
Patricia Yarrington, the new chief financial officer of San Ramon, California-based Chevron, said her priorities were the dividend, the capital program and staying flexible. "So we've always seen the share repurchase program as sort of the discretionary part of that," she said on a conference call.
Chevron's profit rose to $4.9 billion, or $2.44 per share, from $4.88 billion, or $2.32 per share, helped by $600 million from an asset swap in which it received stock for a producing field. Excluding that one-time gain, it earned $2.23 per share, down from a year earlier but topping analysts' average forecast of $1.79.
On Thursday, European major Royal Dutch Shell Plc said profit fell 28 percent to $4.79 billion. Britain's BP Plc is due to report earnings on Tuesday.