Natural Gas Drilling Study

Cramer spoke with Rep. Maurice Hinchey (D., N.Y.), who recently introduced legislation to study the effects of hydraulic fracturing, a method of drilling for natural gas, on our nation's drinking water. Cramer said all opinions need to be aired when it comes to using natural gas a bridge fuel for the future.

Hinchey said that his bill is aimed at making sure that drilling for natural gas is not done in an irresponsible manner, in a way that would harm either air or water quality or personal safety of nearby residents. He said that his aim is not to delay the expansion for drilling in the U.S. but simply to study it and make sure it's being done wisely.

Hinchey refuted claims by the Sierra Club and others that hydraulic fracturing has never caused any damage to drinking water by saying that he has seen evidence that if drilling is not done properly, it can, and has, caused such damage.

Cramer said that if Hinchey's bill delays drilling in the U.S., that would be bad news for the naturla gas drillers, and he'll be watching this study closely.

Lightning Round

Cramer was bullish on BP ( BP), Burlington Northern Santa Fe ( BNI), CSX ( CSX), Potash ( POT), MarkWest Energy Partners ( MWE) and BP Prudhoe Bay Royalty Trust ( BPT).

He was bearish on Chevron ( CVX).

-- Written by Scott Rutt in Washington D.C.

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At the time of publication, Cramer was long Apple, BP.

Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for, Inc., and CNBC, and a director and co-founder of All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of 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, 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 is related to the specific opinions expressed by him on "Mad Money."

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