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Federal Reserve Vice Chair Richard Clarida said Friday the global economy has deteriorated in the past month.Marketsread more
The latest escalation in the trade war ups the odds the economy will fall into recession and that the Fed will aggressively cut rates.Market Insiderread more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
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"My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?" Trump wrote amid a series of tweets that rattled markets Friday.Politicsread more
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Supreme Court Justice Ruth Bader Ginsburg has completed a three-week course of radiation therapy for cancer, the top court said in a statement Friday.Politicsread more
Multinationals that rely on the supply chain from China are tumbling after President Donald Trump ordered them to find alternatives to their Chinese operations.Marketsread more
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After reading this wire report, the Mad Money host says he almost fell out of his chair.
"The California Energy Commission released numbers showing that 743,000 barrels of oil were shipped by rail to California refineries last quarter, up from 215,000 barrels at this time last year."
That's a 245% jump.
"Most of the oil came from North Dakota and Colorado, home of the Bakken shale," Cramer explained.
That's stunning. The increase is substantial.
And as production increases Cramer thinks Whiting and Continental stand to benefit. "Each produce about 65,000 barrels a day last year but (due to developments outlined above) I bet those numbers will go up substantially."
In the wake of these numbers, comments from Cramer suggest the Mad Money host wouldn't be surprised to hear of similar developments elsewhere.
In Texas, "The once moribund Permian Basin is producing 600,000 barrels a day in 2012, up about ten percent from the year before, and up 25% from seven years ago," he said. "Occidental is the biggest producer in the Permian, with Pioneer Natural Resources, Apache and Kinder Morgan following it. "
Cramer also suggests watching for developments in the Delaware Basin.
EOG is "making noises that its Delaware Basis portion of the Permian could be the third big find after Eagle Ford and the Bakken, which means there could be much more than currently meets the eye," said Cramer
Read More from Mad Money with Jim Cramer
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All told, Cramer thinks a small wire story like the one about the California Energy Commission signals big potential. "It drives me crazy just how little people actually notice these things."
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