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Cramer on BloggingStocks: Nat gas stocks outshine integrateds |
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| Jun 17, 2008 09:30 AM UTC |
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Tracked Blogger
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Via BloggingStocks:
Filed under: Exxon Mobil (XOM), Market matters, JPMorgan Chase (JPM), BP p.l.c. ADS (BP), Anadarko Petroleum (APC), Oil, Lehman Br Holdings (LEH), Stocks to Buy, Cramer on BloggingStocks  TheStreet.com's Jim Cramer says these stocks rise because they're doubly blessed. Integrateds fall because they aren't.So many people have been puzzled why the major integrateds have not moved with the last $30 rally in oil's spot price. The answer? They can't take advantage of it. They either didn't believe, and therefore didn't drill, or they have been so in the crosshairs of sovereign lunacy that they haven't been able to. They didn't have the rigs or they judged that the rigs were so expensive that, like 1980, they would look like dopes when oil came back to $40-$50, where many thought it would. (Go back and check even last year's research for price targets, most of which were from the oil companies' themselves.) Or maybe it didn't matter anyway. So many of the contracts these companies have signed with governments around the world are either being abrogated or just outright confiscated that you have to ask yourself "Who can invest under those scenarios?" Exxon (NYSE: XOM) (Cramer's Take) in Venezuela. Shell (NYSE: RDS.A) (Cramer's Take) and now BP (NYSE: BP) (Cramer's Take) in Russia. You can't continually invest billions and then write it off because the contracts you wrote don't mean anything. Continue reading Cramer on BloggingStocks: Nat gas stocks outshine integrateds Permalink | Email this | Comments<map name="google_ad_map_145-1227768"><area href="http://imageads.googleadservices.com/pagead/imgclick/145-1227768?pos=0" shape="rect" coords="1,2,367,28" /><area href="http://services.google.com/feedback/abg" shape="rect" coords="384,10,453,23" /></map> 
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