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Mad Mail: Defending Offshore Drilling

To start Mad Mail, Cramer pointed out a stock he’d recommended, Watts Water Technologies, hadn’t worked. It was an infrastructure play, but was too levered to residential. He said there would have to be a bottom in residential housing before he could tell viewers to buy WTS again.

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Booyah Cramer: I am Cramerica. I am captain of a new-generation offshore supply vessel for Hornbeck Offshore Services, and our vessel is contracted to and working for an Anadarko Petroleum production spar in the Gulf of Mexico. The spar has a Nabors Industries portable rig on deck, performing and drilling on a few of the spar's oil and gas wells. One mile from this Spar sits a Transocean semi-submersible drilling rig performing subsea work on a satellite well. The blue marlin are everywhere, talk about pristine! --Mike

Cramer says: “Mike, you should be telling our senators, because you are absolutely right…everyone one of those stocks is a buy, particularly HOS.”

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Booyah Jim!: If the U.S. doesn't open up drilling in the Outer Continental Shelf, will Cuba be "drinking our milkshake" off the coast of Florida? Happy Fourth of July! --Melissa in Florida

Cramer says: “No, the Cubans won’t. But it’s really interesting because Cuba is much more forward about this stuff than we are – so is every other nation.”

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Greetings Jim: Booyah to you and your staff. I have to disagree with you and your thesis about the U.S. using 30% of our corn to produce 3% of our ethanol. I found the real reason. Corn is going up because of you and all that popcorn you used up as props on a recent show. Please give us an alert the next time you are going to use a corn prop, so that I can move all of my portfolio into corn stocks. --Oz in California

Cramer says: “May I just reiterate that we have three problems facing this country. One is we have oil going up. We can’t do anything about that, OK? The second is we have housing coming down. The Congress could have done something about it and they failed. The third is we got food going up and that could be changed simply by one stroke of the pen, and getting rid of the ethanol mandate.”




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