Cramer Interviews Jim Hackett, CEO of Anadarko Petroleum
Anadarko Petroleum was always one of our favorite green stocks, and not just because we loved the irony of an oil company being green. Anadarko is one of the best natural gas producers out there, with the best manager in the industry, Jim Hackett. Neither of those things have mattered, as the stock’s fallen from $56.42 the last time Hackett was on the show, to $37 & change, a 33.2 percent decline (better than some). The collapse of natural gas prices brought about the collapse of Anadarko’s stock, and with its 1 percent yield, it doesn’t have the dividend to defend itself. It also doesn’t have the political support. On "Mad Money," we think natural gas is the perfect interim green fuel, but Barack Obama and the democrats seem to disagree.
Given that the natural gas producers have pretty much been through the doomsday scenario, we need to shed some light on how things are doing now, and that means hearing from the person we admire more than anyone else in the industry, Jim Hackett, the CEO of Anadarko Petroleum.
What happened? Why has natural gas declined so precipitously?
The combination of the demand side weakening with the economic malaise we've been going through, along with increased drilling, drove it down, but it's not as bad as it might have been. Depending on the winter, the prices will come back up and the Democrats should support natural gas as a bridge to alternative fuels.
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