With the price of oil rebounding dramatically on Wednesday after plunging to a new low of $42, Cramer is a bit unclear how to handle pipeline-focused master limited partnerships.
"Oil at this level actually is low enough that you're going to catch a bottom," he said.
Since oil's collapse began, Cramer has advocated for the pipeline companies because, while the price of oil has dropped, high production still translates to a need for pipelines.
This could be the reason why Magellan Midstream Partners' stock jumped on Wednesday, despite the nasty decline in crude. Magellan transports various things, among them gasoline and diesel, and also operates a storage business that holds 95 million barrels of total storage, including crude oil and refined petroleum products.
To find out how the company will be affected by oil prices going forward, Cramer spoke with Magellan Midstream Partners CEO Mike Mears.
"First of all, when you look at crude oil, I mean, the market needs crude oil. And we transport crude oil. Partnerships transport it. Magellan transports it. The market needs the product, so it's going to move," Mears said.
Aside from oil, another topic on Cramer's mind on Wednesday was the biotechs. Why is no one taking profits on this pesky group?
The "Mad Money" host has seen a lot of action breaking out from this group lately, especially Regeneron, which just hit a new all-time high. Additionally, Esperion went for a run after its anti-cholesterol pill showed positive results.
"Some of this is because the Pharmacyclics came at such a high price and had so many potential suitors that the short sellers seem to be giving up," Cramer said.
Perhaps it is time to turn the microscope on this sector?
Cramer also took the time to give his take on a few caller favorite stocks in the Lightning Round:
Dicerna Pharmaceuticals: "This company has been around for a while...I think it should have struck gold already by now. I'm on hold on this one."
Ziopharm Oncology: "This one is too much of a battleground. It's been up and down, and up and down. I have to say don't buy because the longs and shorts are going at it with this one."
Read MoreLightning Round: This should have struck gold already
Correction: This story has been updated to reflect that Magellan Midstream has 95 million barrels of storage that includes crude oil and refined petroleum product. It previously stated more than 95 million barrels of crude oil.