Natural Gas Drilling Study
Cramer spoke with Rep. Maurice Hinchey (D., N.Y.), who recently introduced legislation to study the effects of hydraulic fracturing, a method of drilling for natural gas, on our nation's drinking water. Cramer said all opinions need to be aired when it comes to using natural gas a bridge fuel for the future.
Hinchey said that his bill is aimed at making sure that drilling for natural gas is not done in an irresponsible manner, in a way that would harm either air or water quality or personal safety of nearby residents. He said that his aim is not to delay the expansion for drilling in the U.S. but simply to study it and make sure it's being done wisely.
Hinchey refuted claims by the Sierra Club and others that hydraulic fracturing has never caused any damage to drinking water by saying that he has seen evidence that if drilling is not done properly, it can, and has, caused such damage.
Cramer said that if Hinchey's bill delays drilling in the U.S., that would be bad news for the naturla gas drillers, and he'll be watching this study closely.
Cramer was bullish on
(BP - Get Report)
Burlington Northern Santa Fe
(CSX - Get Report)
(POT - Get Report)
MarkWest Energy Partners
(MWE - Get Report)
BP Prudhoe Bay Royalty Trust
(BPT - Get Report)
He was bearish on
(CVX - Get Report)
-- Written by Scott Rutt in Washington D.C.
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