CVX, COP, HAL, RIG: Must-Own, Right Now

The oil bears come out in 30 seconds every time the per-barrel price of crude loses 3 points. What a joke. OPEC doesn't have more capacity. We have done nothing in this country in the last two years to knock off oil use. There has proven to be no price that people won't pay at the pump. The ethanol move is a total bust. We have had only two new applications for nuclear power plants. Coal use in this country is going down. The abundance of natural gas means no one is switching to this plentiful fuel.

Yet people want to blame the price rise on speculators?

Day rates keep going up for offshore rigs. We can't find enough spare parts for deepwater rigs.

And the speculators are bidding it up?

These stocks have come down huge. Chevron (CVX - commentary - Cramer's Take) and ConocoPhillips (COP - commentary - Cramer's Take) are screaming buys. I think that Halliburton (HAL - commentary - Cramer's Take) is ridiculously cheap. I would still buy Transocean (RIG - commentary - Cramer's Take).

This is the group. This is the group to own right now. It is washed out and people have abandoned it.

Makes no sense to me at all.

At the time of publication, Cramer was long ConocoPhillips and Transocean.

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