Now that President Obama has finally endorsed natural gas, Cramer said Thursday, the companies that deal in it “could make you fortunes.”
Cramer, a big proponent of nat gas, had watched as both futures and stock prices slipped due to, among other things, lack of support from Washington. It wasn’t too long ago that Cramer had to pull back from recommending pure plays on the commodity, recommending instead those companies with a good mix of crude oil and natural gas.
But that seems to have changed after President Obama, in a speech on Wednesday at Carnegie Mellon in Pittsburgh, said, “The time has come once and for all for this nation to fully embrace a clean-energy future … it means tapping into our natural gas reserves.”
Now stocks like Chesapeake , Devon , Range Resources and EQT are back in play. But not just them. Cramer also thinks companies like Westport Innovations , which helps which the transition to nat gas could also work right now.
Westport makes engines that run on compressed natural gas and liquefied natural gas, but also makes the equipment needed to convert existing trucks that run on diesel to cleaner fuels like nat gas. The company supplies five of the top six truck and bus manufacturers worldwide, and it’s partnered with three of the top four engine makers. So Cramer sees this is as another way to play the truck bull market he highlighted on Wednesday.
What kind of difference will President Obama’s statement make for Westport? And does White House’s new stance make passage of the NAT GAS Act working its way through Congress more likely? These are questions that Cramer put to CEO David Demers during today’s Mad Money. Watch the video for the full interview.
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