OPEC price controls necessitate it. U.S. presidential candidates promise it. Americans shelling out $3 a gallon for gas demand it. But Brazil is one country that actually has it. And that's energy independence.
Brazil, a bull market Cramer's highlighting all week on Mad Money, has been self-sufficient for two years already. Sugar, rather than corn, fuels a government mandate for ethanol, but oil's a big part of this Latin American country's success as well.
It's probably no surprise then that state-owned Petroleo Brasileiro is doing much better than American companies like Exxon Mobile , a company Cramer recently criticized for its lack of production growth. That production growth is a key part of any oil stock, and PBR, with a projected 47% increase between 2006 and 2012, seems to have it in droves.
But a good oil company needs reserve growth, too, and that isn't lost on PBR either. A recent discovery off the coast of Brazil is estimated to hold almost as much as Norway's entire reserve. This new supply should grow PBR's reserves 42% to 68% -- "which puts all the majors to shame," Cramer said -- and that doesn't include three other large discoveries over the past two months.
Critics say the new field is too hard to reach, but Cramer said all the new deepwater finds have been. But that hasn't stopped Transocean , Halliburton , Schlumberger and FMC Technologies from building the drills necessary to reach it. Brazil's Tupi discovery, as it's called, should be no different.
"This is the greatest growth oil company in the world," Cramer said. At least until the U.S. finds its own giant reserve off the coast of Georgia.
Questions for Cramer?
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