In closing, Ebel said Spectra remains committed to its dividend and also to creating great American jobs. He said while the average American works makes $45,000 a year, the average pipeline construction works makes $65,000.
Putting it All Together
Finally, Cramer spoke with Nick Akins, president and CEO of
American Electric Power
(AEP - Get Report)
, the utility that takes natural gas drilled by Chesapeake and shipped via Spectra and converts it into clean electricity for users like Timken, who make all those best-in-class products that get sold all over the world.
Akins said industrial power users like Timken are the backbone of AEP's service area. He said that without them, his company's commercial and residential base would also shrink. When asked about the importance of natural gas, Akins noted that 10 years ago this area of Ohio didn't even have natural gas, but now AEP is set to see its gas purchases increase by 150% this year alone.
Turning to the political landscape, Akins said what's most important for AEP and for all of American manufacturing is a tax and regulatory policy that supports business and balances the needs of regulators, shareholders and consumers. He said our government needs to support growth and current policies are making that tepid at best.
-- Written by Scott Rutt in Washington, D.C.
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