A Game-Changer for Clean Energy Fuels?
Chesapeake Energy announced Monday night that it is going to invest $1 billion in developing technology and infrastructure needed for the widespread adoption of natural gas powered vehicles. And Cramer fave Clean Energy Fuels is going to get a $150 million slice of that pie.
The investment will fund 150 new nat gas fueling stations along interstate highway corridors.
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"This is a big day," Clean Energy Fuel's President and CEO Andrew Littlefair told Cramer. "It's probably the biggest investment in natural gas vehicle infrastructure ever and so for the very first time, we can see a way to build the infrastructure across the country."
The "Mad Money" host called the investment a game-changer, and Littlefair agreed.
"We're buying a $1 million a minute of foreign oil and if you go forward at this price — at their current price deck — in ten years, you're going to spend $2.2 trillion on OPEC oil," Littlefair said, adding that by switching 18-wheelers to natural gas, the US could cut its dependency on OPEC in half. "We have [nat gas] here and it's domestic and it means jobs."
To see more of Cramer's interview with CEO Andrew Littlefair, watch the video.
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