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Jim Cramer Explains How Millennials Killed the Fossil Fuel Trade

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As oil stays in the headlines after U.S. oil inventories fell for the fifth consecutive week, the classic question emerges: 

Are you invested in oil?

Millennials aren't, says Jim Cramer. 

Cramer goes on to break down that millennial investors are not sold on the fossil fuels.

"Millennials won't buy fossil fuels. Look, we own BP for Action Alerts PLUS. BP was a beneficiary of the refinery problem in Philadelphia," said Cramer. "The fossil fuel trade is done because of millennials."

"The only thing positive that happened was Occidental (OXY) - Get Occidental Petroleum Corporation Report in Chevron (CVX) - Get Chevron Corporation Report got in a bidding war, which therefore my to mean that has people thinks in play. But um, the fossil fuel trade is done because of millennials. Uh, if they could get oil above $65, all that would do was created more drilling. I'd rather own the Chinese plays, you know, the Nike's (NKE) - Get Nike Inc. Report , the Broadcoms (AVGO) - Get Broadcom Inc. Report . Betting that China is back then I would any fossils. In other words, I like tech more than I like fossil fuels," he continued. 

Watch to find out more. 

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