With the price of gas on the rise, Cramer thinks U.S. politicians will finally embrace natural gas as a transportation fuel. After all, President Barack Obama spoke positively about nat gas during a speech at the University of Miami Thursday.
“We’re launching a program that will bring together the nation’s best scientists, engineers and entrepreneurs to figure out how more cars can be powered by natural gas – a fuel that’s cleaner, cheaper and more abundant than oil,” Obama said.
To Cramer, the change in attitude toward nat gas will only help Westport Innovations. The Vancouver, Canada-based company designs natural gas-powered engines. WPRT is only of Cramer’s favorite speculative plays on nat gas vehicles, but the stock has run up lately. It has climbed by 20 percent year-to-date and by 263 percent since he first recommended it in January 2010.
On Wednesday, JPMorgan downgraded Westport because it thought the stock was too expensive at current levels and worries about increased competition. Cramer thinks the stock could go higher, though, and argues the nat gas vehicles market is big enough for multiple players.
Westport CEO David Demers recently stopped by CNBC to show Cramer one of his nat gas-powered trucks. Check out the video to see the truck and full conversation.
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