When the market takes the kind of hit we saw Friday, with the Dow and Nasdaq off 2.5% and the S&P 500 down 2.8%, investors should turn to longer-term themes. Like natural gas, Cramer told the crowd at The University of Oklahoma Price College of Business.
He predicts the commodity’s price could reach $6 in 2010, so the losses in these stocks today may have been an opportunity. One of his favorites? Chesapeake Energy , but not just for its profit potential.
Chairman and CEO Aubrey McClendon is a big proponent of nat gas in Washington. Like Cramer, McClendon knows that his industry’s future depends on Congress’ blessing. Right now the powerful coal lobby has most representatives’ ears, but thanks to the work of McClendon and others that is changing.
Chesapeake, along with Devon Energy , operates out of Oklahoma, the number four state in terms of natural-gas reserves and number two for production. That, of course, meant it was a must that Cramer get McClendon to agree to an interview during Mad Money’s visit to OU.
Watch the video for the latest from this top industry CEO. Find out why McClendon says clean coal, which seems to be favored over nat gas here in the US, is a “technological fantasy” and “financial insanity.”
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