It's All about Energy - Cramer's Mad Money (6/11/08)

Stocks discussed in the in-depth session of Jim Cramer’s Mad Money TV program, Wednesday June 11.

Peruvian Wildcat: BPZ Energy (BZP)

Cramer ventured to Peru for his next wildcat energy play and found BPZ, a driller which is radically increasing production and tapping new resources. The company expects to increase its output of 500 barrels a day to 8,000 by the year's end, and is drilling in new locations. BPZ also has 110 million barrels of reserves and is expanding into natural gas. Cramer is not worried about the government seizing BPZ's assets or reserves, because the Peruvian leadership is a "friend of capitalists." With oil prices sky high and BPZ producing more oil, Cramer says the company "might as well be pumping money out of the ground."

Special Guest: Rep. John Peterson (R. Penn)

Cramer was surprised to hear that Rep. John Peterson's proposal to extend offshore drilling from 50 miles to 200 miles off the coast was defeated. The bill has the potential to unlock 8.5 billion barrels of oil and 29 trillion cubic feet of natural gas, not including yet-undiscovered resources. With the country 67% dependent of foreign fuel, Representative Peterson thinks the U.S. can ill afford to resist such a bill, which would not interfere with the development of alternative energy. In addition, the U.S. no longer has a needed 8 to 10 million barrels stored for emergencies. Although the bill was defeated by the Subcommittee on the Interior and the Environment, it has another chance with the Appropriations Committee and the floor of the House. Cramer urged viewers to write their elected official in support of the bill.

Mad Mail: Ingersoll-Rand (IR) Cramer told one viewer that he is not concerned about Ingersoll-Rand after its CFO left the company last week.

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Comments

[paulk8756]

Terrific! Cramer's finally on the case of the clowns in Congress. As he's so fond of saying, "They know nothing!!!"

[Loxomo]

Call me a maverick moron by going out on a limb here, but IF the US is 3rd in the world exporting of oil (approx 8.7 million barrels a day), why can't we find a way to keep some of these millions of barrels from going abroad? Seems IF drilling is expanded, then those millions of newly discovered barrels won't be staying here anyways.
Or is the name of the game always going to be for maximum profits overseas? Someone straighten me out here, please!! LOX

[orlo]

LOX hit the nail right on the head. We export it , then import it.
Maybe someone can explain this to us dummys

[paulk8756]

Okay, guys. Here's the deal. Oil is FUNGIBLE, like money. We take some in, we send some out, it's all a wash. We've been exporting oil to Japan for decades. If we didn't, they'd buy it somewhere else. But it all costs the same, and it doesn't ADD to the total SUPPLY of oil, one way or the other.

Don't be fooled by this nonsense. It's just more smoke and mirrors advanced by the Greens to keep us from developing our own domestic energy reserves. Keep up the pressure on the politicians
in Washington... we're almost there! That's what will make all forms of energy more affordable once more!

[samadams]

8.5 billion barrels or in other words a 16 month supply. I'm not saying don't drill but we're just put off the inevitable a little longer. We need alternatives and mass trans.
Now that Cramer is a decade late to oil investing makes me nervous about holding oil stocks.

[DIEGOJAMES]

I hold Cabot Energy (nyse:cog) some Conocco Phillips(nyse:cop) and Cameco(nyse: CCJ).I sold the drillers alittle early becasue CONGRESS is wrongly blocking drilling offshore the USA...so I own a BIG position in STATOIL(nyse:STO)ADR. They can drill!!!!EVERYWHERE!!!... have windturbines,natural gas and hydrogen service stations.
Plus the profits go into a NORWAY fund which can be invested. In fact some goes into Ascend Solar Technology(nasdaq:ASTI... in Colorado.
DIEGO
ps also a little SASOL(nyse:SSL) a African company making liquid fuel from COAL. Remember those coal mines on the east coast and in Wyoming???? Then we can have something coming from our largest natural resource which is COAL.

[DIEGOJAMES]

oH YES....IF YOU ARE WORRIED ABOUT DRILLING OFF SHORE CALIFORNIA SHAPE THE RIGS INTO THE EIFFEL TOWER OR A RABBIT.
IF THE DRILLING IN ALASKA BOTHERS POLAR BEARS MAKE STOP OVER FLOATING ISLANDS FOR THEM TO REST ON AND FEED THEM BEEF THE ASIANS DO NOT BUY OR THE BAD HAMBURGER FROM A PACKING PLANT.

DIEGOJAMES
THINK DRILLING,SOLAR, NUCLEAR...WIND TURBINES