It looks like Cramer owes T. Boone Pickens $100.
The two men had made a bet on whether or not any meaningful legislation for natural gas would come out of Washington before Memorial Day. Cramer had said no, but just today Senators John Kerry (D-Mass.) and Joseph Lieberman (I-Conn.) introduced a new climate bill in which nat gas plays a part.
One big beneficiary of that law, called the American Power Act, would be Clean Energy Fuels , a natural-gas fueling-station company. Clean Energy provides compressed and liquefied natural gas through its stations to vehicle fleets, whether 18-wheelers, garbage trucks or even services vans owned by AT&T and Verizon Communications .
The company’s CEO, Andrew Littlefair, told Cramer today, during an interview at the Port of Long Beach in California, that one provision in the bill both doubles and lengthens the incentives for 18-wheeler trucks that run on compressed or liquefied natural gas. Littlefair said the resultant payout for these trucks, and ultimately switching to natural gas, would be “inside one year.”
“I really think it’s going to really accelerate the business,” Littlefair said.
The CEO said he knows the bill announced today will see many changes before it is passed, but even if legislators make cuts, “We think we’re going to be in the final product.”Page 1 of 2 | Next Page