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Democratic presidential hopefuls Hillary Clinton and Barack Obama should drop their windfall profit tax proposals for the oil industry, Jim Cramer told viewers of his "Mad Money" TV show Tuesday.
Cramer said those proposals, in particular, would have a negative impact on natural gas drillers at a time when natural gas represents a clean, plentiful source of energy that could easily lead the country towards energy self-sufficiency until better alternative options are viable.
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Cramer has touted the growth of the industry, going so far as calling 2008 "the year of natural gas." He especially likes
Anadarko Petroleum (APC Quote), which he called a "must buy" on March 25.
Since that recommendation, Anadarko shares are up $11.51, and Cramer says the stock could rise to $100 in the next 18 months.
Cramer extended his optimism to the entire natural gas sector. With the growth rates for a natural gas drillers averaging 15%, he said investors will be hard pressed to find such high growth in any other sector. He also mentioned the sector's excellent visibility as another plus.
Rounding out his favorite natural gas drillers, Cramer also recommended
Devon (DVN Quote),
Apache (APA Quote),
Southwest Energy (SWN Quote),
Ultra Petroleum (UPL Quote) and
Encana (ECA Quote).
In addition, he mentioned
XTO Energy (XTO Quote),
El Paso (EL Quote), and
ConocoPhillips (COP Quote). He owns all three stocks for his
Action Alerts PLUS portfolio.
Cramer also had positive comments for
Nabors (NBR Quote) and
Halliburton (HAL Quote).
Regarding the prices of oil itself, Cramer raised his price target from $125 to $150 a barrel. He told viewers that they "haven't missed the move yet."
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TheStreet.com Staff
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