NEW YORK (TheStreet) -- TheStreet's Jim Cramer talks about oil stocks in 2015 and explains why now is not the time to go into them.
Cramer says he thinks investors have plenty of time to get into oil stocks because if you peruse them now, then you'll see that many of them are still recommended as buys and many of them have numbers that are much too high. He believes that investors will be talking about the self-correction in oil about 18 months from now.
But right now, Cramer says there is simply too much oil. A lot is coming from the Gulf of Mexico, and nations such as Iraq, Libya, Russia, and Iran are pumping oil at a high rate with not a lot of storage space for it. Therefore, Cramer thinks it is still too early to get into the oil stocks.
He owns Royal Dutch Shell (RDS.A - Get Report) for his charitable trust, Action Alerts PLUS Portfolio, and he says he expects to get killed on the stock. But he does not want to sell it because it has a good dividend and the best balance sheet. Cramer says it is an example of how hard it is to own energy stocks right now and he says it will get harder, not easier.