Natural gas could boast job production and put pressure on OPEC, said Jim Cramer. But Congress needs to get on board and that doesn't seem likely.
"You want to create jobs, go nat. gas. Open up a thousand gas stations and we will break OPEC. We will break OPEC. You switch to trains. Union Pacific is the largest user of diesel fuel in the world. They have, right now, West Port innovations is developing locomotives that would switch to natural gas. We could break OPEC in three years," Cramer said.
Yet, Congress has thrown its support behind other energy sources, failing to pass pro-natural gas legislation. Yesterday, the National Gas Act failed in Congress by six votes, Cramer said. The bill would have provided commercial truckers with a tax credit to turn in diesel burners and replace them with a costlier natural gas vehicle. These truckers use about 25% of imported oil in the U.S."They are anti-fossil fuel and so it doesn't jive with their battery fixation," Cramer said. But Cramer isn't sold on the safety of batteries. "My best friend is a junk dealer. He won't touch those batteries. He says that that's the next toxic, that the next EPA runaway Gowanus Canal. It's the love canal and people don't talk about that either," Cramer said.
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