Carbon taxes or not, coal stocks are still poised to go higher, Cramer said on Monday’s Stop Trading! segment.
The U.S. has become irrelevant when it comes to almost anything energy related, he said. Coal prices are being set in places like China and India. That’s why a stock like Peabody Energy has had such a tremendous run and is “not done going up.”
Shifting to a different type of energy play, Cramer recommended Fluor , the infrastructure giant, as a potential buy on the removal and storage of nuclear waste if nukes begin to gain traction as a real alternative to oil.
In addition, long-time favorite and recently split Cleveland-Cliffs , the iron ore producer, continues to work – and not just as a potential takeover target, Cramer said. CLF is as much an earnings story as anything else as demand for steel (and thus, iron ore) increases worldwide.
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