FEATURED SLIDESHOW
Who Is The Worst CEO?Mad Money needed new inductees for its
Wall of Shame, so we asked viewers for
nominations.
RECENT POSTS
- Remorseful Regulator Leads Reform Fight
- Lightning Round: AT&T, Verizon, Novartis and More
- Lightning Round OT: Alcoa, Weight Watchers and More
- Why Amazon Rules Retail
- Nordic American: Sinking Ship or Titan Tanker?
- Cramer: What Monday’s Housing Number Really Means
- Cramer: Buy These Banks, If...
- Time to Buy Treasurys?
- Lightning Round: Las Vegas Sands, ADC Telecom, Satyam Computer and More
- Lightning Round OT: Knight Capital, Ebix and More
MAD MONEY FEATURES
PODCASTSWatch the Lightning Round whenever and wherever you want.
OFFICIAL MAD MONEY WIDGETGrab this all-in-one application and get recaps of the show sent right to your desktop or blog.
CRAMERS SOUNDBOARDAdmit it: You've always wanted to hit the "They
know nothing!" button. Here’s your chance.
CHECK OUT OUR PHOTOSCheck out Cramer on set, back to school, behind the scenes and more.
SHOP FOR MAD MERCHANDISEBuy Cramer books, bobbleheads and other Mad Money merchandise.
RING TONESPick up the phone! It's Cramer! New Mad Money sounds for your cell phone.
TEXT MESSAGE ALERTMad Money's mobile. Get show highlights sent to your phone.
Text Size 
There’s been a lot of talk about offshore oil drilling lately. The knee-jerk reaction of most environmentalists has been to decry the practice. These eco-defenders fear massive oil spillages and other accidents that would harm the underwater landscape and wildlife, pointing to events in the past to prove their point.
But times have changed.
As Cramer’s been saying, most of these fears are unfounded. Thanks to technological advances in oil drilling, the problems that caused a spill in 1969 just don’t factor in anymore. So we needn’t worry about them. To prove his point, Cramer’s highlighting those tech innovations, and the companies that make them, all week.
Yesterday, Cramer discussed Compagnie General de Geophysique-Veritas [CGV
Loading...
()
] and its 4-D seismic mapping. For Tuesday’s show, he focused his attention on Oceaneering International [OII
Loading...
()
], the market leader in remotely operated vehicles.
These ROVs – unmanned, joystick-controlled machines – inspect deepwater pipelines, repair leaks, assist in drilling and remove waste material left behind by that drillings. Demand for ROVs is up, and of the 22 contracts out for bidding at the end of the first quarter, OII won 21 of them.
Even if Oceaneering ends up yielding some contracts to competitors, the company’s subsea hydraulic and electro-hydraulic ROV umbilicals business is growing at a healthy clip on its own. In fact, it doubled to 42% of the market in 2006 from 21% in 2004. The umbilicals business on the whole is expected to grow at a compound annual rate of 25% from 2006 through 2011.
Overall the offshore drilling complex should continue to grow, putting OII in the sweet spot. For investors, the good news is that this stock is cheap – trading at about 18 times next year’s consensus estimates despite expected earnings growth of 19% in 2009. The best part? A pullback in the oil sector Tuesday just made OII cheaper.
Questions for Cramer?
Questions, comments, suggestions for the Mad Money website?
Data is a real-time snapshot *Data is delayed at least 15 minutes