Cramer's Beef with US Energy Policy
Cheniere Energy's plans to build an export terminal for U.S. natural gas is "the most embarrassing evidence yet" that U.S. energy policy is "a complete farce," Cramer said Monday.
"We are throwing away any chance to be independent of OPEC by exporting a cleaner, cheaper fuel to other nations through Cheniere’s terminal," Cramer complained. "Meanwhile we keep importing millions upon millions of barrels of oil from countries that have often been at odds with our national interests, to be all diplomatic about it.
So what should be done? We need to use nat gas to power our cars and trucks, Cramer said.
As Clean Energy Fuels continues to build nat gas fueling stations across the country, the switch to nat gas seems more likely.
We know cross-country travel on nat gas alone can be done, Cramer said. He pointed to Murray Gerber, who recently drove from California to New York in a nat gas-powered Hummer.
The former chairman and CEO of nat gas producer EQT , Gerber sought to prove there are already enough nat gas re-fueling stations in place to make a transcontinental trip possible.
Yet when it comes to U.S. nat gas usage, two concerns remain.
First, the federal government won't pass an incentive plan to make the switch possible.
Second, the government continues to think electric-powered vehicles are the future of the automobile industry, even as it's impractical for heavy-duty vehicles, like 18-wheelers.
Cramer thinks the government should end the ethanol subsidy and put that money toward incentivizing diesel trucks' switch to nat gas.
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