Read About Nuke Plants, but Don't Invest

If you read the NRG Energy (NRG - commentary - Cramer's Take) nuclear story today and you want to go buy the stocks of companies that make nuclear power plants or you want to go buy the uranium makers -- GE (GE - commentary - Cramer's Take), Foster Wheeler (FWLT - commentary - Cramer's Take), ABB (ABB - commentary - Cramer's Take), USEC (USU - commentary - Cramer's Take) and Cameco (CCJ - commentary - Cramer's Take) -- you are nuts.

A nuclear plant that is on the drawing board now probably starts in three to five years and is finished, well, maybe within our lifetime? We are simply not committed to these whatsoever and the stories are big because it is an interesting curiosity.

I am forever recalling the Long Island Lighting preferreds I bought after they skipped payments because of Shoreham, which was cataclysmic. I doubt NRG can muster the money or the gumption to build. I also doubt this administration will lift a finger do to it, and the only guy who is really behind nuke power in this country is Pete Domenici who is a really nice guy but beyond that as about effective in the Senate as I am.

We are stuck in this country. Ever since Hurricane Katrina we don't believe in the steadiness of natural gas as a fuel -- the real reason we see no price increase in the commodity, although I like nat gas-levered XTO (XTO - commentary - Cramer's Take) very much because it is the growth oil.

We can't build coal-fired energy plants yet because the nation has not yet come up with CO2 standards. So even the coal bed fluidization technologies can't be used with confidence and they are expensive as all get-out.

No one wants a wind power station. Solar's not practical, other than on a small scale.

Which leaves oil. We are hooked, line and sinker.

So read these stories. Just don't invest in them.

General Electric owns CNBC, for which Cramer is a featured commentator. At the time of publication, Cramer was long XTO Energy.

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