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After the recent volatility in the energy markets, with oil plunging to the mid $30s and then bouncing back to $49 on Monday, Jim Cramer isn't sure what to do with some of the energy stocks.
That is why he turned to the top brass of Cheniere Energy to find out what the future of energy could hold. Cheniere is a pioneer in building liquefied natural gas export terminals that will be able to ship an abundant amount of domestic natural gas to markets overseas where it is more expensive.
The stock has been hit hard after peaking at approximately $80 a year ago and then falling to $62, even though the company has already locked in long-term 20 year contracts for its future export capacity and construction on its Sabine Pass export terminal in Louisiana is ahead of schedule.
Additionally activist hedge fund manager Carl Icahn announced an 8.18 percent stake in Cheniere, and last week the company allowed Icahn to appoint two new board members.
Has the carnage in oil finally hit a bottom, so the stock can bounce back again? To find out, Cramer spoke with the chairman and CEO of Cheniere Energy Charif Souki.
Souki explained that the bottom for oil is near, stating "I think we are pretty close."
The CEO added that this is because of two things that have recently occurred. First, every barrel of capacity that is produced around the world is now being sold. This had led to no spare capacity left in the system. Even Saudi Arabia, Kuwait and United Arab Emirates are close to full capacity.
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"So we have now taken the cushion out of the system," Souki said.
The second thing that has happened according to the CEO is that companies are no longer spending any money on a global basis on capital expenditures. When that occurs, it is inevitable that there will be an imbalance in either direction for crude.
"In the short-term, things can happen—you never know what. But in the medium term, as you take the money out of the system and you've taken the cushion out of the system it is inevitable we are going to go much higher," Souki added.