Cramer's 'Mad Money' Recap: The Next Oil Gusher

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There are market opportunities to find stocks that work based on their fundamentals, Jim Cramer told viewers of his "Mad Money" TV show Thursday.

While Cramer remains bullish on agriculture, infrastructure and health care stocks, he believes oil stocks may present the biggest opportunity for investors.

Cramer cited dwindling oil reserves as the long-term catalyst that make oil stocks attractive. He noted companies like Statoil (STO Quote) and BP (BP Quote), both of which were taken lower recently on fears the companies may be running out of reserves.

For this market, Cramer raves about FMC Technologies (FTI Quote), a high-tech oil equipment and service company.

In particular, FMC makes products for underwater oil processing systems and has recently landed large contracts for the coveted Pazflor Project off West Africa, among others. In a world where Cramer sees oil heading to $125 a barrel, FMC's commanding lead in its market will allow it to continue to prosper.

In addition, he points out, the company offers investors a cushion with a huge stock-repurchase program with 14 million shares left to buy. And he says it's also cheap, trading at less than twice its growth rate, with solid fundamentals.

Looking Out for the Little Guy

Cramer welcomed Eric Dinallo, the state of New York insurance superintendent, to the show to discuss recent concerns and allegations involving MBIA (MBI Quote) and other insurers ravaged by the subprime mortgage mess.