GO
Loading...

How Safe Is Oil Drilling?

Oil drilling is highly regulated and safe, Clean Harbors’ Founder, Chairman and CEO told Cramer Wednesday.

Clean Harbors has been at the Bakken shale for nine years, he said, adding "we have not seen any kind of problems" like oil spills or companies not cleaning up after themselves. He also said drilling will not harm the water table.

“We do not see any signs of that at all,” Alan McKim said. He thinks the technology used to drill into the rock formations is “a pretty safe technology as far as we can tell.”

CLH is an environmental clean-up and waste disposal company doing business in the oil fields of North America. Not only does it respond in times of crisis, it also performs routine maintenance, cleaning and disposal tasks.

McKim is also adamant that pipelines are not dangerous.

“It is the safest way to manage oil transport right now, “he said. “I’ve been doing the cleanup business for 35 years. The majority of the events that we work on are related to tankers and trucks.”

In fact, he’s a proponent of the proposed pipeline that would transport oil from Canada to the US. He thinks that tapping into the resources in North America could free it from dependence on foreign oil.

“If we could get everybody focused on natural gas and oil here in the US and Canada, we could be, from a North American standpoint, energy independent for sure.”



Call Cramer: 1-800-743-CNBC

Questions for Cramer? madmoney@cnbc.com

Questions, comments, suggestions for the Mad Money website? madcap@cnbc.com

Symbol
Price
 
Change
%Change
CAH
---

Featured

Contact Mad Money

  • Showtimes

    U.S.
    Monday - Friday 6p ET
    Australia
    Saturday 8a, 1p, 7p SYD
    Sunday 12a, 1a, 8a, 7p SYD
    New Zealand
    Saturday 10a, 3p, 9p NZ
    Sunday 2a, 3a, 10a, 9p NZ
  • Jim Cramer is host of CNBC's "Mad Money" and co-anchor of the 9 a.m. ET hour of CNBC's "Squawk on the Street."

Mad Money Features

  • Grab the latest CNBC gear from the NBCUniversal Store!

  • Get a behind-the-scenes look at how Cramer formulates his investment advice. "Inside the Madness" is a column, which features e-mails and more with Cramer and his researcher Nicole Urken.

  • You’ve always wanted to hit the “Hallelujah!” button. Here’s your chance.