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Jim Cramer: The U.S. Will Be the Cheapest Producer of Natural Gas in the World

jim cramer

Even though Home Depot at $97 is “really expensive, ” said CNBC’s Jim Cramer, it is worth paying attention to in order to get a read on other retailers. Raymond James downgraded Home Depot from a buy to a hold, even though the retailer has performed very well, in spite of the slow housing sector. Cramer thinks the way Home Depot dealt with its security breach and the hackers was far superior to the way Target handled a similar crisis. Target, with a new CEO is in wait and see mode.

National Oilwell Varco was downgraded from a buy to a hold by Credit Suisse, and for good reason. Even though Cramer thinks it is an outstanding company, it doesn’t matter how good NOV is with Chevron and Exxon cutting back on drilling. NOV, which supplies rigs, is going to be hit very hard with the slowing of oil production, which is happening because of the low price of oil. Natural gas drilling will be reduced too, because the commodity is so cheap in the U.S, it isn’t worth it for companies to drill. “We are going to be the cheapest producer of natural gas in the world, ” said Cramer, “including the Middle East.”

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