If a hurricane were to blow through the Gulf of Mexico, Cramer said during Friday's Stop Trading!, "BP is finished as a company."
Oil has been spewing from BP's well since a Transocean rig exploded on April 20. The leak is so "powerful," Cramer said, it could pump 100,000 barrels of oil a day into the Gulf. Add a major storm on top of that, and it would be too much for BP to handle.
Some have recommended BP because its share price has fallen so far, but Cramer called it "a very dangerous stock," an "unanalyzable security" because of this crisis. He isn't sure if he would recommend Chevron or Exxon Mobil right now, even though both have no direct exposure to BP's spill, because the fallout has spread to most of the oil sector.
For those still interested in this space, Cramer noted that refining margins are up.
"Everyone is raving about refiners," he said, adding that he likes Marathon Oil because it has the newest refinery and the greatest margins.
When this story published, Cramer's charitable trust owned Marathon Oil.
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