Pennsylvania to Join OPEC?
Ed Rendell gets it, Cramer said Monday. The Pennsylvania governor recently decided to not tax natural gas drilled from the state’s Marcellus shale, a sign he realizes the importance of this cleaner carbon fuel.
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That’s a big deal when you consider how big coal is for Keystoners. And the coal lobby, Cramer likes to say, has been a huge obstacle for natural gas in state and federal buildings across the US. Despite emitting 50% less carbon dioxide than the black rock, and 30% less than oil, pols seem attached to the idea of “clean coal,” ignoring the jobs that nat gas would create or the freedom it would offer from our dependence on foreign oil.
These natural-gas shale plays – Chesapeake Energy , XTO Energy , Range Resources , EQT and others – are “part of one of the biggest themes we’ve got going right now,” Cramer said, and Governor Rendell is part of the vanguard encouraging their business. It shouldn't be surprising, though, given that one study showed that Pennsylvania has enough of the commodity to qualify as an OPEC nation.
That’s why Cramer invited Rendell back to the show, because he's virtually at ground zero of the nat-gas industry. Watch the video for the full interview.
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