Cramer spies disturbing trend in energy

Cramer is very bullish on many energy plays. But at the same time, he's spotted a problem in the space as well.

On Friday, Chevron reported a with production coming in short of expectations.

"We're seeing this kind of thing far too much from integrated oil companies," said Cramer. "It's a disturbing trend because this is an amazing time to be in the oil business."

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Earlier in the week, Exxon reported earnings and although it showed output increased in the latest quarter, it was the first time it increased in more than two years. And the increase was relatively modest.

The Mad Money host worries that the sheer size of big oil has started to become a headwind for shareholders.

"I fear they are just too large to be able to grow their reserves at a pace that will move the needle," Cramer explained.

Therefore big oil might not be the best bet, if you're looking to put money behind a favorite Cramer theme – the renaissance in domestic energy production.

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Instead, Cramer thinks investors should view big oil more like big pharma. That is, more attractive than bonds but also unlikely to appreciate considerably.

"It is always possible that the big dogs will split up, break themselves into more digestible pieces because I really believe the parts are worth more than the whole. Until then, though, just like in the pharmaceutical world, it's a lot better to own the juniors than the majors."

Call Cramer: 1-800-743-CNBC

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