"We need to get off oil," Demers said, citing a recent study that not only looked at the direct impact of converting trucks to natural gas, but also the possibility of reinvigorating the entire economy around transportation and creating tons of new jobs by creating a new domestic infrastructure.
Demers said there in enthusiasm for natural gas in everything from locomotives to passenger cars, noting that Ford Motor (F) now has the capacity to build up to 20,000 F-250 and F-350 natural gas trucks just as soon as consumers want them. He said that Clean Energy Fuels (CLNE) has already proven that if you build a natural gas filling station the trucks show up, so we just need to make the investments.
When asked about federal regulations that prohibit a natural gas tender to follow a locomotive, Demers said that, in reality, the regulations don't say that you can't have a natural gas tender because no one has ever tried it before. He said there will certainly need to be new regulations written, but he's confident that those regulations can and will be written.
Cramer said Westport remains a speculative stock in his eyes. He said the true believers can buy in now, but the skeptics should probably wait for a pullback in the share price.