Cramer's 'Mad Money' Recap: Brazil's Paper on a Roll

Get Refined With ENGlobal

Now there's a way to make money off of oil refining and a way to lose it. Having employees die in refinery explosions, as BP(BP Quote - Cramer on BP - Stock Picks) has done, is certainly a way to lose money, Cramer said.

That's where his stock pick of the day, ENGlobal(ENG Quote - Cramer on ENG - Stock Picks), comes into play.

The little-known company has an engineering division for maintaining and constructing refineries and makes machinery for oil refineries. In Cramer's mind, this is the pure play for America's refinery infrastructure, which is aging and at risk of endangering more workers.

And while the stock is not a Hurricane Katrina play, there are hurricane factors that will give the company a lift.

There's a lot of Gulf Coast refinery rebuilding for ENGlobal to get in on; and the machinery that was operating after the hurricanes was running at full capacity.

"If machines run at full capacity ... they will explode," said Cramer.

Cramer sees some downside, given that ENGlobal has made nine acquisitions since 1998. Acquisitions made at that pace are often covering up a slowing core business.

But he said it's not too much of a threat, since the company's margins are still expanding despite all the acquisitions.

A caller pointed out that Halliburton(HAL Quote - Cramer on HAL - Stock Picks) is the best of breed in the sector, but Cramer stood by his decision to anoint ENGlobal the pure play.

Halliburton has had a magnificent run, Cramer said, and will likely split into two parts: oil services and engineering. When that happens, he said to buy the engineering division and sell the oil services unit.

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