NEW YORK ( TheStreet --

Debra Borchardt:

General Electric ( GE)said that they were going to acquire Lufkin Industries ( LUFK)for almost three billion dollars. Lufkin is an oil service company that makes lifts. Now you might want to know what a lift is. A lift is not a lift like a car lift, it's a pump and it's helping to pump the stuff out of the ground and get it to the surface. GE has a few years ago said that they wanted to go way more industrial and they've been shedding the assets that weren't industrial and this is part of this whole oil production servicing side.

Jim Cramer:

Right. I mean GE is such a big company that we tend not to think 'Well, wow. What are they?' We know that they're in healthcare.

Debra Borchardt:

And engines.

Jim Cramer:

And we know that they're in engines, right. We know they're in aircraft but they've made a huge bet on oil and gas, particularly shale in this country and Mad Money visited the Baccan and we did the whole thing with the donkeys in the background. Those are the things that go up and down and up and down. They nod and that's Lufkin. Now Lufkin is really the only game in town for this business and they've done a remarkable job. I know our friend Dan Dicker, energy expert, said to me 'Listen Jim, it's one off.' I like that understanding, it's one off but GE itself is anything but one off when it comes to oil and oil and gas. If I were Halliburton ( HAL)or Baker Hughes ( BHI), if I were Neighbor's or if I were not Weatherford ( WFT)because I don't think Weatherford's well run enough but that's been going higher, FMC Technologies ( FTI). There are all sorts of companies that GE could buy to make a statement in this sector. I think that this is the first time I've ever seen something...we were recommending this in Mad Money as a takeover because we'd recommended Garden Denver ( GDI)and then we said we had liked Robinson Myers and then suddenly this one. Debra, what I think is most important is that if you go to LinkedIn ( LNKD), there's a piece by Jeffery Immelt, April third, and in it the CEO of GE talks about that this is the future for GE's business. They're taking their money out of entertainment, taking less capital from...putting less capital in commercial and putting it here. They will be, if I am right, the premier energy company, energy service company after Schlumberger ( SLB)in the world in a couple more acquisitions.

Debra Borchardt:

Well I think you're...something that you've touched on is the progression in their stated goals and how they achieve them because they made this acquisition in 2011 where they are building out that services unit and here we go. Each year they keep adding to that and that's what to me is so telling. They state their goal, this is what we're going to do, and then they actually do it and it seems like they're doing it quite well.

Jim Cramer:

I mean, look, I wish they'd buy Hackman. They're not going to buy Hackman. It's four dollar stock. Core Labs ( CLB)would be terrific. They did the math thing but Core Labs very, very expense stock. So they went after the one that is cheap. Lufkin's cheap because they had a series of earnings disappointments and remember that Baker Hughes drilling index was down. The March employment number was hurt by the fact that we did shut down a lot of nat gas drilling and nat gas has gone up to four bucks. Aubrey McClendon who used to run Chesapeake ( CHK) had been saying over and over again 'When we get to April of 2013, that's natural gas is going to go up because of how little drilling there is going on.' A National Oilwell Varco ( NOV)I always felt was a natural for GE to buy but the main thrust of this is to recognize that Jeff Immelt sees the revolution of oil and gas and the revolution in oil and gas is the most palpable revolution going. I talked about it on Meet the Press yesterday. A lot of eyes glazed over and there are a lot of people who hate fossil fuels. When I went on @jimcramer on Twitter, I was astonished at how much hatred I got from just even mentioning pipeline business oil and gas. Oil and gas has been the principle creator of jobs in this country and just people were even disputing that. All you have to do is go to the...

Debra Borchardt:

Do you want to buy GE here on this?

Jim Cramer:

Yes.

Debra Borchardt:

There you go.

Jim Cramer:

GE is making a commitment into a business that's going to have a multi-tiered move.

--Written by Debra Borchardt in New York.

>To contact the writer of this article, click here: Debra Borchardt.
Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

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