"Face it," Jim Cramer told his
"RealMoney" radio show listeners Friday. "You're angry that you need a car to get around, angry that you need gasoline for your car ... angry that it costs $60 to fill your tank. Angry that you'll probably be paying more than that in the months ahead."
Politicians have noticed the anger because it's election time for many of them, he said. They want their constituents to know that they're doing something to lower gas prices, including launching price-gouging investigations, giving fuel rebates, easing taxes and probing the tax records of oil companies.
"These proposals will not work," he said. If you want to lower gas prices, Cramer said, lawmakers need to truly address supply and demand.
Let oil companies do what they do best, which is explore, drill and refine, he said. He added that the U.S. needs to ease restrictions and give the oil companies incentive to do better.
We don't need to levy more taxes on oil companies, he said, even though they have been raking in record profits. These earnings are not the cause of high prices at the pump, said Cramer. Fuel prices are high because of threats to supply, he said.
Why are we not doing more with coal in this country, he asked, noting that other nations have come up with technology to create oil from coal and shale. He said that the U.S. is doing nothing meaningful with its carbon-based economy.
The Corporate Gene Pool
As part of the homework that Cramer recommends, he always tells listeners to assess the quality of a company's management.
One way to do this is to look at the "bloodlines," he said.
brought in Mark Ketchum as chief executive.
Ketchum used to work at
Procter & Gamble
, where he did a great job. Not surprisingly, Cramer said, Rubbermaid stock went up four points after the new CEO took the reigns.
Cramer owns both Rubbermaid and Procter & Gamble for his
ActionAlerts PLUS charitable trust portfolio.
On the other hand,
brought in a CEO who had been a poor manager at
. Cramer called this man a "joker."
If a manager is from a good culture, "it could be money in the bank," he said. If the CEO is from a bad corporate culture, you may have to sell.
To see the most recent edition of The RealMoney Radio Recap in its entirety, please click here. This recap is published every day around 3 p.m. ET.
At the time of publication, Cramer was long Newell Rubbermaid and Procter & Gamble.
James J. Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for
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