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"I think Thursday will be a landmark day for wind power," Jim Cramer proclaimed to the viewers of his "Mad Money" TV show Tuesday.

At a cost of only 4 cents per kilowatt, Cramer said wind power is the cheapest form of renewable energy. He said the entire wind power industry could get a boost on Thursday when the Texas Public Utility Commission makes an important ruling that will significantly boost wind power in the state.

Cramer said the proposal would create eight renewable energy zones in the state, providing much needed infrastructure to connect remotely located wind farms to the existing power grid. He said the decision will likely set the precedent for other states to get behind wind power.

Cramer revisited his index of 10 wind power stocks levered to the growth of wind power created on May 28. Since its creation, the "Wind-ex" is down 11.8% along with the overall markets. But Cramer said after Thursday's expected ruling, the wind story will get better than ever.

The "Mad Money" Wind-ex includes

Trinity Industries

(TRN) - Get Report

, a stock which Jim owns for his charitable trust,

Action Alerts PLUS, which is down 19.7%;

Thomas & Betts

( TNB), also down 19%;

Owens Corning

(OC) - Get Report

, down 20%;

Clipper Windpower

( CRPWF), down 22%;

Kaydon Corp

( KDEN), down 15.8%;

Broadwind Energy

( BWND), down 18%;

Woodward Governor

( WGOV), down 11%;

MasTec

(MTZ) - Get Report

, down 1.6%;

Vestas Wind Systems

(VWDRY)

, down 1.9%; and

Otter Tail

(OTTR) - Get Report

, the only one in the group with a gain of 15.8%.

Cramer: It's the Year of Natural Gas

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Cramer said the poor performance of the Wind-ex stocks has nothing to do with the wind power business, but rather with the industrial components of all of the companies.

He reminded viewers that as wind power accounts for larger portions of their earnings, the other divisions will account for less. He views the current weakness in the stocks as a valid pullback and a buying opportunity.

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More Wind Power

While most stocks levered to wind were getting hit again today, Cramer said he's still a buyer of

Quanta Services

(PWR) - Get Report

, a stock which he's adding to the "Mad Money" Wind-Ex.

Quanta, a stock owned by Jim's charitable trust,

Action Alerts PLUS, was last mentioned on Nov. 15, 2007 at $27.28, and is up 6.3% since that recommendation.

He said that Quanta, which builds and maintains energy infrastructure, is poised to take advantage of the coming boom in wind power.

According to Cramer, the U.S. will invest $1.5 trillion on energy infrastructure between now and 2030, and Quanta will be a beneficiary. The proposed initiative currently in front of the Texas Utility Commission alone could provide for $3 billion to $9 billion in new infrastructure investments.

Cramer said electricity, which accounts for only 60% of Quanta's business, is only part of its operations. He said that 17% of the company's revenue comes from natural gas services and 17% comes from telecom and cable services, which is in the midst of a major upgrade cycle.

Quanta, which currently has $5.2 billion of work in its backlog, sports only a $5 billion marketcap. Cramer said whenever a company's backlog meets or exceeds its total marketcap, it's worth a look. He said he'd be a buyer under $29 a share.

It's Already Illegal

"Today we heard something good from the SEC but also something misguided," Cramer told viewers.

He noted earlier today Chris Cox, chairman of the Securities and Exchange Commission (SEC), said he's banning naked shorting, the practice of shorting a stock without first borrowing shares from a broker, for shares of

Freddie Mac

( FRE) and

Fannie Mae

( FNM).

But Cramer said the problem with Cox's statement is that naked shorting is already illegal. The SEC, he noted, just doesn't enforce their own rules. Cramer, a long time opponent of hedge funds pummeling certain stocks through excessive shorting, said the agency needs to stop misleading the public and instead start enforcing the existing rules.

Cramer said the SEC has under regulated and failed to prosecute their own laws. He urged Cox and others at the SEC to start taking action to protect companies and small investors.

A Bearish Overreaction

Shares of Eaton

(ETN) - Get Report

, a stock he's championed in recent weeks, got pounded today after it lowered its annual guidance by 20 cents.

He talked with Sandy Cutler, Eaton's chairman, president and CEO, to find out what happened.

Cutler defended Eaton's performance, saying it delivered record revenues and profits in the recent quarter. He said he lowered the company's guidance in recognition of a potential global economic slowdown.

He said market overreacted. He said he still sees overall strength in Eaton's global electrical and hydraulics business. In his opinion, he said it was prudent to mention the slowing growth in Europe and elsewhere.

Cramer reminded viewers that his "new-tech" stocks are performing 5.3% better than the overall S&P500. And he said he's standing behind Eaton and agreed the declines today were just an over-reaction.

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Lightning Round

Cramer was bullish on

Mexican Economic Development

(FMX) - Get Report

,

Transocean

(RIG) - Get Report

and

Apache

(APA) - Get Report

.

He was bearish on

American Apparel

(APP) - Get Report

and

AerCap Holdings

(AER) - Get Report

.

Want more Cramer? Check out Jim's rules and commandments for investing by

clicking here

.

For more of Cramer's insights during the Lightning Round, click here

.

At the time of publication, Cramer was long Trinity Industries and Quanta Services.

Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for TheStreet.com, Inc., and CNBC, and a director and co-founder of TheStreet.com. All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of TheStreet.com or its affiliates, or CNBC, NBC UNIVERSAL or their parent company or affiliates. Mr. Cramer's opinions are based upon information he considers to be reliable, but neither TheStreet.com, nor CNBC, nor either of their affiliates and/or subsidiaries warrant its completeness or accuracy, and it should not be relied upon as such. Mr. Cramer's statements are based on his opinions at the time statements are made, and are subject to change without notice. No part of Mr. Cramer's compensation from CNBC or TheStreet.com is related to the specific opinions expressed by him on "Mad Money."

None of the information contained in "Mad Money" constitutes a recommendation by Mr. Cramer, TheStreet.com or CNBC that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. You must make your own independent decisions regarding any security, portfolio of securities, transaction, or investment strategy mentioned on the program. Mr. Cramer's past results are not necessarily indicative of future performance. Neither Mr. Cramer, nor TheStreet.com, nor CNBC guarantees any specific outcome or profit, and you should be aware of the real risk of loss in following any strategy or investments discussed on the program. The strategy or investments discussed may fluctuate in price or value and you may get back less than you invested. Before acting on any information contained in the program, you should consider whether it is suitable for your particular circumstances and strongly consider seeking advice from your own financial or investment adviser.

Some of the stocks mentioned by Mr. Cramer on "Mad Money" are held in Mr. Cramer's Action Alerts PLUS Portfolio. When that is the case, appropriate disclosure is made on the program and in the "Mad Money" recap available on TheStreet.com. The Action Alerts PLUS Portfolio contains all of Mr. Cramer's personal investments in publicly-traded equity securities only, and does not include any mutual fund holdings or other institutionally managed assets, private equity investments, or his holdings in TheStreet.com, Inc. Since March 2005, the Action Alerts PLUS Portfolio has been held by a Trust, the realized profits from which have been pledged to charity. Mr. Cramer retains full investment discretion with respect to all securities contained in the Trust. Mr. Cramer is subject to certain trading restrictions, and must hold all securities in the Action Alerts PLUS Portfolio for at least one month, and is not permitted to buy or sell any security he has spoken about on television or on his radio program for five days following the broadcast.