Executive Decision: Tom Farrell
In the "Executive Decision" segment, Cramer checked in with Tom Farrell, chairman, president and CEO of Dominion Resources (D - Get Report), the electric utility with a 4.6% yield that's just off its 52-week high. Dominion also has a natural gas storage and transmission business with its own export terminal on the way.Farrell said it's too early to tell whether the government shutdown will have any effect on Dominion. He said electric usage was up in the second quarter but the company is seeing some impact on government and commercial usage. But beyond Dominion's electric business, everyone is excited about the company's natural gas export project in Maryland. Farrell said Dominion already has 20-year contacts in place with India and Japan to virtually take all of the capacity of the new terminal, which recently received its export permit. Farrell said the site already has a direct pipeline to the Marcellus shale region, along with 14,5 billion cubic feet of natural gas storage and a terminal fit for supertankers. All that's needed is the equipment to liquify the gas. When asked about the government's involvement thus far, Farrell described the process as "balanced," with the Department of Energy weighing both domestic and international needs. Farrell noted that exports will not drive up the price of gas because once the price reaches a certain level, producers will make more money using the fuel domestically. Cramer reiterated that Dominion remains his favorite utility.