U.S. Nat Gas bill coming?The following is from Cramer's April 6 show:
Natural Gas Bill
In a special interview, Cramer once again spoke with Rep. JohnSullivan (R., Okla.) about the future of natural gas in our country,especially given record high oil prices.
Sullivan said that Americans are fed up with paying $4 and $5 fora gallon of gas and his newly reintroduced natural gas bill, whichprovides incentives for converting trucks to natural gas, couldn't begoing any better. He explained that last year's bill got caught up inbroader issues of energy and environmental issues, along with debates ontax cuts.
What's different this time, said Sullivan, is that the bill isnarrowly focused and is stand alone legislation. In this tight fiscalenvironment, he said mandates and handouts aren't going to fly, so hisnew bill cuts the subsidy period from 17 years to just five years tohelp give the natural gas industry the nudge it needs to becomeeconomically viable.
Sullivan said that the U.S. buys over $1.5 billion a day worth offoreign oil and it would be asinine not to use our 125-year supply ofnatural gas to take a serious chunk out of that amount. He said naturalgas is a consumer issue, a jobs issue, an environmental issue and anational security issue.
When pressed for a timeline, Sullivan said he thinks the billcould pass the House by summer and be passed by the Senate shortlythereafter. "We could wrap this up in just a few months," he said.
Cramer said he's more bullish than he was before, but after beingburned by last year's bill, he's keeping a "wait-and-see" attitudeuntil the bill actually passe