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Contrary to popular opinion, air is not free, said Jim Cramer Wednesday on his "Mad Money" TV show, and he wants you to buy industrial, medical and specialty gas company Airgas ( ARG). Airgas has three things going for it, said Cramer. The company has pricing power, strong end markets and a stock buyback. The combination of these makes Airgas a buy, he said. Airgas announced price increases in October, said Cramer, so, it's not like that's new news, he said. Also, the buyback is publicly available information. Airgas' stock has responded, said Cramer, but it's not done going up, yet. "It's not done because nobody's talking about Airgas," said Cramer. Airgas is in a "quiet, odorless, colorless bull market." So far, Airgas' price increases have allowed it to maintain its margins, said Cramer. But, by the second half of next year, he believes that Airgas will see an expansion of its margins because with the demand for gas relatively inelastic, he wouldn't be surprised to see another price increase put through. The risks to the story are Airgas' customers could cut production or go out of business, said Cramer. And, Airgas is somewhat debt heavy, he added. However, the company has sold an ancillary business, a move that shows Cramer that it's trying to shore up its balance sheet. In response to a question about water plays, Cramer said he has been buying Aqua America ( WTR) for his ActionAlertsPLUS charitable trust. Cramer likes the water business because many smaller water companies are owned by European entities, he said, and the European entities are selling. That means there are good acquisition candidates for Aqua America. Commenting on natural gas plays, Cramer said his favorite producer is Chesapeake Energy ( CHK). But, he sees natural gas prices coming down, so he would rather own the buyers of natural gas than the producers.