Cramer's 'Mad Money' Recap: Nov. 17

The green basket included such stocks as First Solar (FSLR Quote), Foster Wheeler (FWLT Quote), Shaw Group (SGR Quote), MEMC Technologies , BorgWarner (BWA Quote), TetraTech (TTEK Quote), OM Group (OMG Quote) and Fuel-Tech (FTEK Quote).

Since Cramer first highlighted the green stocks on April 16, 2007, the stocks have enjoyed a 65% gain on average between then and Nov. 6, 2008.

Since Nov. 6, however, as oil and natural gas prices have plummeted, so have their green alternatives. The green basket is now down 37% from April 2007 to today.

Cramer said his green thesis was an trading thesis and not a investment thesis. Green stocks have fallen many many times before, he said, but never as quickly as in recent weeks.

Cramer recounted Jimmy Carter's plan in 1977 to make 20% of the U.S. energy supply renewable energy by 2000. President Ronald Regan, though, dismantled much of the plan when oil prices fell in the 1980s.

Today, the U.S. relies on renewable energy for just 6% of its energy, on par with that of 1977.

Cramer blamed today's fall in green stocks on lower oil prices, as well as forced selling by ailing hedge fund investors.

He said that with President-elect Barrack Obama clearly in the ethanol camp, he sees little chance for a resurgence for the natural gas alternative or in any of the wind or solar plays anytime soon.

Lukewarm on Anadarko

Cramer talked with Jim Hackett, chairman and CEO of Anadarko Petroleum (APC Quote), to get his take on state of his company, and the natural gas industry, given the sharp decline in oil and natural gas prices.

Hackett said while the combination of weakening demand for gas along with big successes in onshore drilling have driven natural gas futures significantly lower, the price of gas today is not as low as he thought it might go. He said he still sees natural gas as the fuel for the future and one that's right for the economy and for the environment.

Hackett said Anadarko has largely protected itself from the downturn by hedging 95% of its production for 2008 and 2009 and 70% of its production for 2010. He said the acquisitions made by the company in 2007 are still economically viable, even at prices lower than that of today.

When asked about the current state of natural gas stocks, Hackett said he sees the market as now being oversold. He predicted the stocks will trade ahead of the coming recovery and represent a great value to shareholders.

Toward that end, Anadarko remains committed to its stock repurchase program, said Hackett, adding his preference for buybacks over increased dividends.

Cramer agreed with Hackett's assessment. He said Anadarko's stock does represent a lot of value, but he fell short of offering his full endorsement.

Outrage of the Day

Cramer took issue with the Securities and Exchange Commission. Instead of going after those responsible for trillions of dollars in bank and investment losses, it took aim today at celebrity investor Mark Cuban for insider trading.

Cramer said if found guilty, Cuban deserves punishment, but called the move by the SEC an amusing sideshow among unprecedented other issues.

Lightning Round

Cramer was bullish on Weyerhaeuser (WY Quote), Nordic American Tanker (NAT Quote), Duke Energy (DUK Quote), Molson Coors (TAP Quote), Campbell Soup (CPB Quote) and General Mills .

He was bearish on Aetna , Merrill Lynch (MER Quote), Frontline (FRO Quote), Chicago Bridge & Iron (CBI Quote), Ameren Corp (AEE Quote) and ConAgra Foods (CAG Quote).

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