Beyond the Eagle Ford, Papa said EOG's Bakken assets rivaled the growth in the Eagle Ford and is proving to be another huge opportunity for the company. As for the third leg of the stool, Papa said the recently discovered Delaware Basin is showing promise. While not as large as Eagle Ford or Bakken, it will prove to be very profitable for EOG.
When asked about the outlook for both oil and gas in the U.S., Papa said 2012 will prove to be the peak of oil production growth in our country and he expects growth to continue at a slower pace going forward. As for natural gas, Papa said he's slightly more bullish and feels that $4 to $4.50 will be a more rational price for that fuel going forward.
Finally, when asked about North American energy independence, Papa said he still feels the U.S. and Canada can become energy-independent by 2020, just seven short years from now. When that happens, he said, the entire economic outlook for the U.S. will change significantly.
Cramer said EOG continues to be a remarkable story.
Executive Decision: Don KnaussIn his second "Executive Decision" segment, Cramer sat down with Don Knauss, chairman and CEO of Clorox (CLX), which today celebrated its 100th anniversary. Shares of Clorox are up 32.5% since Cramer last spoke to Knauss in March 2012, and currently yield 3%. Knauss started off by saying that despite being 100 years old, bleach is still the most effective way to kill germs, both at home and in hospitals -- germs simply cannot adapt to the power of bleach. That's why as this year's flu season kicked off, Clorox was actively monitoring social media channels and sending more supplies of Clorox products to the zip codes that needed them most. When asked about one of Clorox's other brands that hasn't done so well -- Kingsford charcoal -- Knauss explained that charcoal remains a seasonal business, with 60% of sales happening between March and June every year. That's why this year's unseasonably cold March, the coldest in a decade, sent sales plummeting.
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