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Clean Energy CEO on New Climate Law
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Web Editor, Mad Money
It looks like Cramer owes T. Boone Pickens $100.
The two men had made a bet on whether or not any meaningful legislation for natural gas would come out of Washington before Memorial Day. Cramer had said no, but just today Senators John Kerry (D-Mass.) and Joseph Lieberman (I-Conn.) introduced a new climate bill in which nat gas plays a part.
One big beneficiary of that law, called the American Power Act, would be Clean Energy Fuels [CLNE
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], a natural-gas fueling-station company. Clean Energy provides compressed and liquefied natural gas through its stations to vehicle fleets, whether 18-wheelers, garbage trucks or even services vans owned by AT&T [T
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] and Verizon Communications [VZ
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].
The company’s CEO, Andrew Littlefair, told Cramer today, during an interview at the Port of Long Beach in California, that one provision in the bill both doubles and lengthens the incentives for 18-wheeler trucks that run on compressed or liquefied natural gas. Littlefair said the resultant payout for these trucks, and ultimately switching to natural gas, would be “inside one year.”
“I really think it’s going to really accelerate the business,” Littlefair said.
The CEO said he knows the bill announced today will see many changes before it is passed, but even if legislators make cuts, “We think we’re going to be in the final product.”
“We’re told by [Senate Majority Leader] Harry Reid he wants an energy bill,” Littlefair said, “and I get that sense from the Senate.”
Regardless of the new law, though, or even the NAT GAS Act working its way through Congress right now, Clean Energy Fuels seems to be doing well. Littlefair today touted his company’s 56% year-over-year increase.
“We’re growing,” the CEO said.
Unfortunately for CLNE, its strong quarterly report got lost during the Dow’s 1,000-point plunge last Thursday. So if you missed it, check out Cramer’s full interview with Littlefair. Plus, find out why top-line revenues can be a bad way to judge this company and why Cramer calls CLNE “one of my favorite plays in this industry.”
Call Cramer: 1-800-743-CNBC
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