« BACK  |  PRINT

RS

MEMBER DIARY

Cramer’s Remorse, XVIII: Oil is Next

You start to get the idea Jim Cramer had some pent-up rage over that whole Daily Show debacle and his consequential shutting down.  Now he’s up to three anti-Obama articles in less than twenty-four hours.

Not a whole lot of terribly profound words this time, not even a readily identifiable Money Quote, but a quickie rundown of what Cramer sees coming:

  • After he’s done ripping the banks a new one, Obama will turn his sights on his next "easy target", the energy industry, especially Exxon and Chevron.
  • This could happen as soon as today, with Schlumberger’s profit report, just as the assault on the banks came the same day as Goldman’s report.  (It’s not clear whether he wrote this before knowing that "Slob"’s profits took a pretty big hit this quarter.)
  • Obama is also likely to tax natural gas drilling into unprofitability, a likely excuse being "clean water".
  • And all this not because it makes any sense for the country, but because Obama needs a "win".

I’ll say this.  Cramer may be a bit of a fair-weather friend to pretty much everyone, but I’ll take that over intransigent enemies in Washington who seems determine to fight the free markets to their dying breath.

Get Alerts