>> guy >> rangers play the panthers in a -- >> so exciting >> southwest air, mel. i think the selloff was too much >> thank you for watching "fast money. adon" thimrar ere tomorrow "m meywi j cme starts right now. jim cramer starts right now ♪ we're a long way from home 140 miles off the coast of louisiana. where american technology has unlocked new resources buried deep beneath the waves below it's a new industrial revolution that's happening right before our guys and tonight you're going to learn all about it "mad money," invest in america, from chevron's anchor platform in the gulf of mexico begins now! >> my mission is simple. to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere.

and i promise to help you find it "mad money" starts now ♪ hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends. i'm just trying to make you some money. my job is not just to entertain but to educate you so call me 1-800-743-cnbc or tweet me @jimcramer when we think about technology, we imagine artificial intelligence, machine learning, gpus the usual shooting match but maybe, just maybe we should be thinking about this a gigantic chevron floating production unit smack in the middle of the gulf of mexico i know on a day when the dow sidelined 141 points, s&p advanced .21, nasdaq gained, it might seem strange to chopper 140 miles offshore to see this brand spanking new monster but i think it's worth it because energy's the driving force behind much more than you think that's happening in the stock market now, we know that today belonged

to elon musk the man told a story last night that he should have told when he had that robo taxi meeting earlier this month he talked about how his new electric vehicles were ready to go live and tesla would self-drive and much more than people think by the way, certainly more profitable than anyone else in the industry it was a tour de force, standing ovation conference call. tesla deserved that rally because it never should have been down so much in the first place. but then musk took a shot at the internal combustion engine he said gasoline powered cars will soon be a niche business. he invoked the horse way veiled reference to the buggy i say wait a second. chevron's a big thing company too. ceo mike worth our guest tonight did not spend more than $5 billion on this thing because fossil fuel powered cars will be a niche business elon musk while he talks a better game than just about anyone, and i think tesla's got a lot -- tons more room to run how about that but he's wrong on this in the meantime chevron's stock is hostage to the price of oil

and gas and has no control of either commodity plus it costs a fortune to get oil from the bottom of this deep blue sea by the way, it's all the way down where everest is in terms of height. and then piped into the refinery and truck it to the gas station where then they can sell it to you for about $3 a gallon, same price it's been for a while. but this is not just a grudge match between the old and the new, a ballot of electric vehicles versus internal combustion the truth is fossil fuels are essential for a lot more than vehicles, like it or not we're here to explore the intersection between the tech titans, the metas, nvidias, microsofts, oracles, googles, and their insatiable demand for energy the data centers they're building are voracious consumers of electricity they need to run fast and they run very hot the grid can't handle it there isn't enough power so what happens? we hear that these hyperscalers are going all in on nuclear power. oh, i love nuclear even more than most people but after spending time studying gevernova the company that makes equipment for nuclear plants i'm

beginning to think that nuclear power won't play much of a real role in the data center future at least for another decade from now. they're just that hard to build. and even before you build them it's almost impossible to find the talent that's willing to let you put a nuclear plant in your back yard. if we need more energy we're going to get it from what comes out of the ground in places like this fossil fuels that will power the data center. specifically natural gas when you study gevernova's fantastic quarter and it was and you read between the lines the numbers that shine are certainly not nuclear. definitely not wind. the strength came from electrification and the power of natural gas. you may be reluctant to invest in it. you may think who cares. but you need to know how vital all this fossil fuel technology is to the growth of magnificent seven. because in these data centers, because nvidia's chips burn so darn hot and they use an insane amount of electricity, we simply need more fuel fossil-based fuel. oh, and could we just take a moment to understand that there's more to technology than just generative ai and machine

learning chevron's mike worth and i strolled anchor, this production unit that will be producing 75,000 barrels a day for years or even decades, more than 400 million barrels of oil beneath my feet. as we wore our hard hats and held on to handrails i saw much tremendous technology for this electrified facility but it doesn't run on what he gets from beneath the sea. it's electric. i saw amazing caterpillar solar turbines a division once run by the incredibly successful jim umpleby before he asenlded to be the head of caterpillar. i saw a ton of equipment from emerson. i haven't looked at thang since it launched a hostile takeover for national interest. maybe it's time i revisit it same goes for a.b.b., a swiss giant that makes electrical equipment. i saw their stuff all over the place. all these companies are about creating clean power to run this behemoth and run it safely this is a different kind of technology one you can say is more hostage to the economy like honeywell or carrier. two misunderstood stocks that got pan kaikd earlier today

after reporting some confusing numbers. they were both clobbered, especially honeywell, which we own for the charitable trust it's been red hot for restructuring but cold on earnings we're formulating a plan for it. sent you a memo earlier today. but club members, tune in tomorrow of course it's not all tech. we used to be hostage to an organization called opec the organization of petroleum exporting countries. because we were a giant importer of oil even 20 years ago now we're producing more than 13 billion barrels a day, the biggest producer in the world. we're a net exporter we broke opec. much of the crude system in the permian basin where chevron has a huge presence and growing one, that basin was supposed to be tapped out so many times, just keeps coming and coming. however, the wells are indeed short lived. this will still be pumping, this what we see here, maybe i don't know, 20, 30 years from now. the death of opec has changed the whole geopolitical map 1973 when israel was attacked by egypt and syria our government backed israel and opec went ballistic. they held back oil production so the price soared

next thing you know we had stagflation, a horrendous stock market and a terrible recession. this time israel's at war, arguably multiple wars, but there's no stagflation or recession and we've got a ripsnorting bull market. why? let's just say you're looking at it this much maligned industry, this industry that's spent billions upon billions of dollars to try to be as low carbon as possible, including this gigantic floating production unit, is the reason why oil prices have actually come down during this period they've gotten so much production that opec is now powerless. granted, it wasn't always this way. we'll ask chevron's ceo about ma kando, yes, the disaster that befell the gulf of mexico almost 15 years ago we know musk's tesla still represents the future and the stock's about to take off while chevron stagnates because it's hostage to oil and gas prices. but the bottom line, this invest in america series that brings us here celebrates american ingenuity and it's pretty darn hard to find a better example of that than anchor, the gigantic floating oil platform in the

gulf of mexico that i'm standing on right now let's take questions let's go to robert in new york robert >> caller: jim, i wish i was on that platform right now with you having some nice porterhouses. i've got to tell you that. if we had a couple of scotches it would be fun. >> they have excellent soft serve here, i'll point out, besides the steaks what's happening >> caller: this next stock is up over 20% this year and there's huge 2024 revenue exceeded expectations because their digital sale of new product instructions contributed significantly to revenue with a strong e-commerce performance. not to mention their pending merger of albertson. this ceo, rodney mcmillan, is firing on all cylinders with his management i feel this company's undervalued. kroger >> robert, you're right. with albertson i think it's better because they've got to go up against costco and walmart

and amazon without it they still do well, but frankly look, this administration i think they'll hold this deal up from now until i don't know, this thing's tapped out how about that let's go to john in new jersey john >> caller: hey, jim, how are you doing today? >> not bad i've got some nice sun here. how about you? >> caller: doing good. my question is gxo with the talk about maybe takeover i've had the stock since 2021 when it spun off from xgo. and i know it's been at the highs lately should i trim, hold or sell out of gxo >> i think you should hold it. it's a really good company it would be icing on the cake if you do get a takeover, but gxo's been a winner. i'm not leaving that stock i'm staying with it. look, we are out here to celebrate american ingenuity and it's hard to find a better example than the oil platform i'm standing on right now at this moment. on "mad" tonight what's a visit to a chevron platform without a

sit-down with ceo mike worth don't miss my two-part exclusive from anchor with the man himself. this is a tricky time for oil service stocks i'm running through the big names. and elon musk, stock going up, up, up he made it clear at his conference call that he's laser focused on an electric future. so is there some room still for old school oil and gas i'm sharing what i'm learning out here in the gulf so stay with cramer! >> announcer: don't miss a second of "mad money." follow @jimcramer on x have a question? tweet cramer hashtag madmentions. send jim an e-mail to madmoney@cnbc.com. or give us a call at 1-800-743-cnbc miss something head to madmoney.cnbc.com.

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tonight we're coming to you from chevron's anchor floating production unit. about 140 miles off the coast of louisiana. this new platform is designed to produce 75,000 barrels of oil per day. more important, it can maintain pressures of 20,000 pounds per square inch, which can unlock all sorts of offshore oil sites that were pretty much previously inaccessible but don't take it from me. earlier today we got the chance to sit down and discuss this project with mike worth, the chairman and ceo of chevron. take a look. >> mike, we are on anchor. to me it seems like an engineering marvel, a technological marvel how do you get it done >> well, it takes time we started 20 years ago, when we first acquired a lease 140 miles offshore 10 years ago we made a discovery with a well from a drill ship. five years ago we had enough

engineering done to make a final investing decision five years later, and over $5 billion of investments here we are. so it takes time it also takes every engineering discipline you can imagine marine engineering mechanical engineering electrical engineering petroleum engineering. chemical engineering coming together with the world's greatest suppliers to integrate these systems. it's like a small city out here. we've got to be self-sufficient. it will be here for decades. and i'm really, really glad to host you >> i've been on platforms before i don't smell any oil. it seems self-contained. it seems low carbon. how is that possible >> our goal is to keep everything inside the pipe in the old days when you could smell things it was because there were vapors getting out of the pipe that's not acceptable today. it's not acceptable for our company. so you've got to keep things inside the pipe. it's clean as can be it's some of the lowest carbon intensity production in the world. the average carbon intensity for

oil production is around 60 kilograms per barrel of oil. or 60 tons per barrel of oil this is about 5. it's low carbon intensity. there are no emissions nothing goes overboard into the water other than very clean water. and that's the way we operate. >> all right so tell me something i've got some of your crew right here i buy a gallon of milk in new york city, it's $5 paying $3 at the pump. all you've got to do is milk the cow, put it in a carton, heat up the milk and you've got it, they charge 5 how are you able to -- what does it take to get it there to my pump and how come you only charge 3 >> well, it's a global market for crude oil. and we've got to be efficient with our capital investment. we've got to be efficient with our operations and frankly the industry's got a history of finding a way to do things better and better, which continues to drive the cost down, which allows us to compete in the marketplace and prices really if you look at them over

a long sweep of time and you adjust for inflation they have really haven't gotten very much. and so it's all about continual improvement and efficiency in an industry that is a highly competitive industry >> tell me about this facility in particular, it costs more than 5 billion, it's got many levels where's the oil from here? >> well, the oil's coming from a few miles that way it's going to come from a few miles that way this is a big field. it's a field of several square miles. we put a facility here we have different drill centers on the sea floor a mile beneath the surface of the ocean. and then we'll drill wells that reach out laterally from there another mile, two miles. it all gathers along pipelines on the sea floor and then we bring it up here the ship that drills these wells first of a kind. we worked with transocean. to work at 20,000 pounds per square inch, which is the reservoir pressure >> how much pressure is that give me like -- how much pianos on a table how many caterpillar trucks on a

table? >> so imagine a full-grown male african elephant standing on a quarter. that's what the pressure is down in this reservoir. we've got to drop the drill pipe and pull a drill pipe in and out of the hole 35,000 feet down >> that's taller than everest. >> that's taller than everest. it's about the cruising height for a commercial jetliner. 3 million pounds is the hook load on the crane, which is essentially equivalent to that crane on a ship out there lifting three fully loaded 747 airplanes. >> all right so how can it be worth it? how many net barrels do you think are in this? how do you justify spending that money? especially when i know we like chevron for the dividend >> well, we've got several hundred million barrels that we expect to produce out of this field over 30 years. so we take a long view on recovering our investment, which is a large investment. it's got to generate a return

and got to generate positive cash flow because the dividend matters to our shareholders. and we've got a strong track record on that dividend. >> just the stock in general i find it's been held back because you're doing something with hess that's under arbitration we can't tell when that's going to be resolved but it has hurt the valuation of the stock even though i think if you get it the stock should go higher and if you don't you can do conventional because your conventional is strong >> well, look, our portfolio was very strong because we did the transaction with hess. we had a great growth trajectory over the next several years we're going to grow free cash flow at a 10% compound annual growth race, which is what supports the dividend. our dividend yields over 4%, which is three times the s&p we've grown our dividend for 37 consecutive years. the last year's at a 6% -- last decade at a 6% compound annual growth rate. so we're returning cash to shareholders over the last two years, dividend and share

repurchase more than $50 billion back to our shareholders >> okay. i appreciate that. our viewers appreciate that. there are people -- look, macondo was bad, and we all know it long time ago now. but what do you say to people who say you know what, you can't really mitigate the damage here, there's nothing they can ever do, offshore's just too dangerous? >> well, look, the macondo incident was a horrible incident and i think everybody in the industry recognizes that and has learned from that. so we operate at a much higher level of safety even than we did back then. thank goodness our company's not experienced an event like that but it could happen to anyone if we're not as diligent as we could be so we pull resources to be prepared to respond to an event, but we've also raised the bar on the standards for our drilling operations out here in the deep water gulf of mexico and at the first hint of a problem you shut down and you go to a safe state. >> now, on this platform it seems like i see many, many

people how many did it take to build and how many people are here, live here, sleep here, go to the gym here >> well, it took thousands of people to build this it was built in more than a dozen countries around the world. and the pieces then come together, the equipment comes from suppliers around the world. the hull we're floating on was done in a shipyard in korea. the top sides were done in corpus christi, texas. it's all integrated and then brought out here and anchored up and so thousands and thousands of people over many years. once we've got it installed, it's run with a pretty efficient crew we've got maybe 100 people on board at any time. they work 14 days on, 14 days off. typically when they're on here it's 12-hour shifts, 12 on, 12 off. we're 24/7 back to back. so it's a relatively lean crew that runs it but it's like a small city >> so a the lo of people two hurricanes people worry about hurricanes. what can you tell people about this under the extreme

conditions that could happen >> well, certainly when there's a hurricane we evacuate our facilities if there's any risk that it could be hit we shut in the production. we take everything to a very safe state the facility's designed for a 1,000-year storm we've got 80 to 100 feet of freeboard between the surface of the water and the first deck on the platform so we can take waves that are much higher than you see, and even a category 5 hurricane would just wash right underneath here so it's designed to withstand more than the biggest storm that you would see here in the gulf of mexico. but we get everybody off and take it to a safe state when there's a storm in the region. >> excellent, mike we're going to be back with more of my talk with mike wirth of chevron in a moment. >> announcer: coming up, jim cramer is diving deeper into the heart of the gulf with more from this exclusive interview with chevron ceo mike wirth from the

company's anchor platform 140 miles off the coast of louisiana. next

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few minutes of his time. i learned so much from this ceo. take a look. >> mike, you spent a fortune on anchor you must believe that fossil fuels will be around for a long time are you you concerned about evs? aren't you concerned about the future of what's going to happen to fossil? >> look, the demand for energy in the world continues to grow the population grows the number of people in the middle class life cycle. we need all the solutions to meet that growing energy demand. evs are great for people that can afford them and that have driving patterns that fit. they don't work for everybody. i mean, last year in the u.s. we saw the biggest year of ev sales ever, about a million and a half evs. there were 10.5 million internal combustion engines sold last year in the u.s. if you look at the entire fleet in the u.s., there's about 5 million evs on the road. there's 260 million internal combustion engines

so it's a long cycle here. and of course our products are used in much more than just gasoline, which is maybe 25% to 30% of where a barrel goes the rest goes into aviation, long haul trucking, shipping, marine uses. petrochemicals and a lot of those become the composite materials that go into an ev because they make lighter weight structural components for things like evs. so the demand for our products is going to be with us for decades to come. >> so when elon musk said yesterday you're going to be a niche industry, it doesn't sound like that's anytime soon >> look, there's room for all of it we're going to need all of it. and i want to see every solution that is economic and feasible come to bear we're going to need all of those. >> oil and gas industry in ascendance, we're the biggest producer in the world. you've had a big role in it. how did it happen that we became ascendant, the number one producer of oil? >> it's the innovation of the u.s. industry. we were -- if you remember back in the early 2000s, declining

production we were watching other countries like saudi arabia and russia really grow. and people thought forever more. you heard talk of peak oil and there was not going to be enough it's innovation. in the u.s. it's been in the permian and other unconventionals with horizontal drilling and hydraulic fracturing the u.s. is now producing over 13 million barrels a day saudi arabia and russia, less than 10. so the u.s. is the biggest producer capital markets, innovation, great companies. and it's made america energy secure once again. >> speaking of great companies, we've got companies like -- we have amazon. we have meta we have alphabet we have tesla. these are companies that need more power than they seem to realize. correct? >> well, electricity demand in the u.s. is going to go up again. it's been pretty flat for some time but the electrification of the economy including electric vehicles and the growth in data centers to support all the technology that we're seeing is going to kneeled a lot more

electricity generation natural gas is really competitive for reliable base load power, which is going to be essential. so we'll see wind. we'll see solar. we'll see renewables come in but we're going to also see a very strong role for natural gas, which the u.s. is blessed with an abundant supply. >> we spent a long time talking about domestic the geopolitical situation for you. kazakhstan a part of the old soviet union war with ukraine leviathan off of israel. middle east tensions got to be -- how do you live with that? >> well, it's a part of our world every day. the geopolitics. and you've just named some of the areas where we've got significant operations we've got people that work just as hard as the people on this facility every day to keep our people safe and keep the environment protected, keep our assets in a state where we don't have an environmental incident and then of course we work with the intelligence services, you know, our own and those of countries to be sure that we understand the risks in the

environment, we properly mitigate against those risks particularly in zones where we have conflicts under way >> we do have an election coming up this took forever to build i know you can't be thinking about who's going to be president or not if you're taking a long situation. but in january 26th of this year the biden-harris administration announced a temporary pause on temporary approvals of lng exports. you've got projects that can't make that happen do you care who's going to end up being president as the ceo of chevron? >> well, it's an interesting point. this facility from beginning to end has spanned five different administrations. it's going to be in service for more than 30 years so it will serve out five, six, seven more administrations and we'll see the white house go from one party to another. what really matters is consistent and coherent energy policy and frankly that's something we've not seen as much out of this administration including the lng permitting pause, which sends a signal to our allies

that look to us for lng supplies we've helped europe, you know, at a time when they've really needed the help. people look for long-term commitments out of this country and short-term moves that question whether or not we will be able to invest don't help with the global supply situation. >> people give fossil fuel -- it's got a bad rap but at the same type what you've done and your industry has done has made us independent. i remember 1973. i remember the day of the yom kippur war that was the beginning of a round of inflation, beginning of a huge recession, beginning of the lost decade of the '70s. that can't happen again because of your industry >> well, energy is such a vital part of the global economy that if we find ourselves in a situation where energy supplies are constrained, particularly if they're constrained by political actions, it can trigger inflationary reactions in the economy because the price of

energy is embedded in everything everything is delivered. everything is manufactured and energy is the lifeblood of the economy. so affordable and reliable energy is essential to keeping inflation at a level that economies can handle, and that's why we need investments and we need stable policy to encourage that investment. >> does the u.s., either party, understand and do enough to support this industry or is this industry not in the room >> i think there are a lot of people i talk to in washington from both parties that do understand this. oftentimes they tend to be from states that are energy producers. so they understand the industry better but i do find people on both sides that understand it they can be pulled in different directions for various reasons we try to work with both parties. we're apolitical we want to see people elected to office that believe in free markets, that believe in competition, that believe in the

economic vitality of this country. and that's something that is not a domain of only one party or another. >> the one thing that does concern me, i see these what seem to be on paper brilliant carbon capture programs, again, to try to lessen your footprint. but mike, they're not working. they're expensive. they're going wrong. what's the big plan tomitigate >> well, they are expensive. one of the big challenges is there's not a price signal and a price signal is really how markets respond and capital flows in response to that. capturing carbon is all about costs right now. and so we've got some tax incentives that the i.r.a. brought in which start to create an economic signal to build these businesses, but they're new businesses they're entirely new value chains so you've got customers, you've got service providers, you've got investments, and you've got to figure out how to allocate capital risk and returns across these new value chains and the

investments are going to be measured in the billions and so that takes time and that's what's under way right now. we're working hard and a lot of other good companies are working hard on it but it doesn't happen overnight. >> mike, i think you do take a long-term view, and i think everybody appreciates that particularly shareholders. i know it's hard to allocate i know it's hard to be able to be a ceo of an oil company in this world right now but i've been behind you all the way and paid a lot of money out to people. got to get the stock higher. you know that. >> we're going to get the stock higher the cash flow is coming. 2025 we're going to go from -- over the next two years in the gulf of mexico 200,000 to 300,000 barrels a day. a million barrels a day in the permian. we'll get to a million barrels a day in kazakhstan. we've got big production growth coming that's going to drive cash flow growth, which is going to continue to support growth in the dividend, share repurchases on top of a strong balance sheet. we've got a strong, strong value proposition. >> that will do it mike wirth, chairman and ceo of chevron. thank you so much, mike. >> thank you, jim.

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while we're out here on the chevron platform in the middle of the gulf of mexico it's worth taking a look at the rest of the industry not the producers but the oil service companies, the ones that make production possible so far it's been a pretty bad year for slb and haliburton, the two largest pure play drillers both down over 20% while number 3 baker hughes is up nearly 8%

which is better but still of course lags the market pretty dramatically i got bull, on the oil service stocks back in january because i assumed we'd see higher energy prices that didn't happen i got it wrong worries about the economy have kept a lid on oil and gas. even with all the turmoil in the middle east. slb, that's the old schlumberger, and haliburton have been putting up good numbers but nobody cares because investors don't want to touch the group which by association includes chevron i think that could change even if it might take some time now that the fed is our friend and more rate cuts are on the table that's good news for the industry i'm not worried about the election either. if trump wins maybe we're back to that drill baby drill things. if harris wins we get exactly what we've had for the last four years. not ideal for the binds it's still led to record oil and gas production in the united states. plus the oil service stocks they look really cheap. slb sells for 11 times next year's earnings estimates. i can't remember when it was that cheap before. with wall street expecting nearly 9% earnings growth. halliburton's even more of a

bargain, eight times next year's earnings estimates even though it's expected to have 9% growth in 2025. however, those valuations are only traskt if slb and halliburton can make the numbers. otherwise their stocks are going to stay in the doghouse. that's why i want to walk you through the oil service plays tonight some of which have already reported let's start with slb, the old schlumberger which reported last friday even though i like the results the stock still dropped 5% in response, still hasn't recovered. slb posted a small revenue miss paired with a 1-cent earnings beat off an 8-cent basis what tilted it for me is that their cash flow numbers came in much, much, much higher than expected but management's commentary about slb's outlook for the future, let's just say it was more mixed slb's ceo olivier lepouche gave a nuanced update on the industry with some worries about short cycle oil investment as well as a bunch of positives like significant investments natural gas production and some encouraging comments about deep water drilling projects. while slb doesn't give much in

the i kwa of formal guidance management is not sounding super confident about the fourth quarter. and for 2025 they're talking about upstream spending in the international market growing by low to mid single digits north america spending looks to be flat to slightly down overall i think slb continues to be fine but after communicating a mixed outlook going forward i wouldn't expect wall street to give them the benefit of the doubt until we started seeing more signs of an upturn in the global economy now, the other major oil service company, halliburton, reports in two weeks, november 7th. this stock has lagged slb this year because it's more levered to the north american market rather than the international markets doing better we'll see what hal has to say in a fortnight, but if the outlook that slb just gave us is correct, low growth for international, no growth or declines for north america, then hal should be in worse shape than slb even though halliburton remains an excellent operator. just the wrong business mix for the current environment. how about the third member of the oil service triumvirate, baker hughes this one's a shocker i've steered you away from this

one in the past because i saw baker hughes as not ainferior operator compared to slb or halliburton. but maybe it's time to rethink that stance. this stock's been performing quite well since former parent company ge sold off its remaining stake in the business. it was back in 2022. while slb and halliburton put in a relative peak last fall and have been falling steadily since baker hughes has managed to keep grinding higher, you have to learn how did they do that simple unlike slb and halliburton baker hughes is not a pure play oil service company. that's only 60% of the business. the other 40% comes from their industrial and energy technology division, which is lots of high-tech energy-related products including natural gas equipment and clean energy while the oil service business grew at a 3% rate in the first nine months of the year, not great, the industrial energy technology segment was up nearly 20%. that is great. on tuesday night baker hughes reported and though they had a very big revenue miss their earnings still came in 6 cents better than expected

61-cent basis. stock jumped 3% in response. that was right just keep in mind that baker hughes is not winning because it's a better oil service company than slb or hall burt orn. it's winning because it's less of an oil service company at a time when that business has just been treading water. finally, while we're out here on the offshore oil rig, i think it's worth going over the offshore drillers. we hardly ever talk about the smaller offshore operators like transocean, symbol rig, i always loved that, or noble, because they never fully recovered from the fracking revolution which of course is on -- it's in the permian. transocean has lost money for the past seven years its stock has plunged from $30 a decade ago to just below $4 now. 2021 oil prices collapsed at the beginning of the pandemic. every major offshore driller except for transocean went bankrupt but the stock rebounded dramatically from those lows before peaking at eight bucks and change in the summer of last year since then it's pulled back along with energy prices still, there are reasons why i am talking about transocean tonight. first, this anchor production

platform where we're standing was drilled by transocean using one of the company's eighth generation drill ships, the deepwater titan. the company has two of these both operating in the gulf of mexico and they're technological marvels, frankly they're perfectly designed for drilling in the gulf second, transocean's in the news last night bloomberg reported the company's exploring a merger with smaller rival sea drill i don't really have much of an opinion on the potential deal, but it provides more dochbs in the offshore space than i've seen in over a decade. by the way, the industry needs consolidation. honestly, this group has been so bad for so long that it's tough to recommend them here but if you strongly believe that the price of oil's headed higher next year or the year after, then transocean's a winner personally, though, i don't want to bet on that but the bottom line, this is a tricky moment for the oil service space. the two pure plays, slb and halliburton, are stuck in a holding pattern right now. but if you believe the fed will hit us with more rate cuts that can boost the economy, then

they're winners. as for baker hughes, it's got a lot going for it although none of that's related to the oil service business. it's working because it's not a pure play. finally, i'm seeing more excitement for the offshore drillers than we had in more than i adecade but it's such a high-risk industry that i just can't bring myself to pound the table. wow. what a downer. "mad money's" back after the break. >> announcer: when we return, master the markets one stock at a time the "lightning round" is up next

it is time it's time for a very special "lightning round" on cramer's "mad money." dedicated to the crew of chevron's anchor platform! [ cheers and applause this is where i take your calls rapid fire tell me the name of the stock, sell sell sell, buy buy buy. i don't know the name of the stock -- play until we hear this sound! and then the "lightning round" is over. are you ready, skee-daddy? time for the "lightning round" on cramer's "mad money." start with jerry in missouri jerry! >> caller: hey, jim, thanks for taking my call i was looking for a good solid growth stock by picking a solar power equipment manufacturer i was hoping the fed rate cuts would stimulate growth but that just wasn't the coast. should i sell my position down here and if so what would you recommend replacing it with? >> enphase has been clobbered already. it was clobbered because of europe cutbacks, the subsidies

they should have communicated that but i don't want you to sell it down here. daniel in new york daniel >> caller: hey, jim. so question for you. cigna sold its medicare business they look like geniuses. now they want to buy humana. no one likes the idea. why are they doing this? >> okay. if they like the idea it ain't going to happen. cigna is very well run, very pro shareholder. i like cigna it's two thumbs up let's go to william in virginia. william. >> caller: yes thank you, mr. cramer, for taking my call and thank you for all you do to educate us out here. i was wondering what you thought of zim, shipping stock >> yeah, a lot of people feel that it's zim's time i'm much more on the fence because historically i've lost a lot more money than i've made in the shipping stocks. so i say stay away patrick in california. patrick. >> caller: jimmy chill, what's

up boo-yah. >> patrick >> caller: yes hello? >> what's going on >> caller: hey there, how are you doing? thanks for taking my call. >> i'm doing well. of course, i'm happy to take your call. what stock you got >> caller: i'm calling about broadcom, abco should i -- >> couple of bad days. the company's very -- buy! charitable trust name doing incredibly well. hey, listen, it's not an industrial those stocks got hammered. i like broadcom. let's go to dwayne in where wash washington dwayne >> caller: hello, cramer >> dwayne, what's up >> caller: bluebird. blbd >> well, it doesn't have something for me i'm sorry. i just don't see the growth. i like growth. doesn't have it. i say we stay away and that, ladies and gentlemen, is the conclusion of the "lightning round"! >> announcer: the "lightning round" is sponsored by charles schwab

coming up, with the world focused on an electric future, is oil really on its way out or could it still be essential for decades to come? cramer's giving you his take from the depths of the gulf. next >> boo-yah, jim! i love you, man. i've been watching you from day one. >> thank you for all the wonderful advice that you provide us >> i'm learning so much watching your show. >> i watch your program every day. i love it. >> always wanted to say boo-yah on your show >> thank you for being the greatest in the world. >> we consider you the money market maker and we thank you for all you do. >> i love your show. >> we think it's the most entertaining program on tv built their wealth the same way, you have... the fearless investor. the type a cpa. the bootstrapper. the bootmaker. yeehaw [narrator] but many do have something in common. we all trust schwab with our wealth. [narrator] thanks to our award-winning service, low costs and transparent advice.

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you can see me grin from ear to ear out here in the gulf. the hospitality and graciousness of chevron is extraordinary. what matters to you at home is we're going to need oil, need fossil fuels, ideally burning them in the cleanest way possible there's just too much demand for power. for a time i was a doubter why do we need all this crude? why can't we just go nuclear why should companies spend billions on something that so many visionary figures tell us will soon be a niche market? yes, if you were on that tesla conference call last night you came away thinking that this is a horse and buggy operation. that's wrong, though as chevron ceo mike wirth told me, we're going to need oil for motor fuel and all sorts of other uses for decades to come and this particular field will produce for decades. and they're pumping crude as safely as they can chevron's doing it right and doing it responsibly because we have no choice but to do it right. to put it another way, we're stuck with fossil fuels. so we need new policy that actually includes technological

marvels like this oil rig. remember, this is not a drill baby drill operation it's the most responsible, safety first piece of real estate imaginable. if we have to have fossil fuels then we need big discoveries not the stuff in the permian basin. that's extremely short-lived and requires endless drilling. in all my years covering the oil business i'm always surprised by how much the execs actually care about the environment, how much they recognize climate change and the need for carbon capture even if it's very hard to make that technology work they know their legacy depends on how responsible they are, which is why they're so dedicated to ensuring that there never will be another macondo, that gulf of mexico disaster that left 11 dead and spoiled a huge swath of the beach adjoining the gulf 14 years ago. now, last night's tesla conference call was full of the elon musk trademark bravado about electric vehicles. but musk is not al-seeing or all-knowing. years ago i met him at this dinner party and he was talking about how one day soon, soon all our energy would come from a

giant solar field in some corner of colorado. oh, you could see all the heads nod, somehow this man figured out how to beat global warming i challenged musk around the table, saying that i thought it was unrealistic and that we have to deal with the utility and energy structure for years and years. did he deal with the question? no, he just went in a whole other direction. he attacked me saying there's about a 50% chance that i didn't exist, that i was nothing but a hologram in his imagination. it's been about a decade still no massive solar farm. no hologram. last night on his conference call musk talked about how the fossil fuel business will soon be niche musk always talks a good game and his track record puts him in the same pantheon as thomas edison or maybe even henry ford. but i think he's wrong about fossil fuels the chevron floating production unit that i'm standing on is about as good as we can get for energy in this country so let's accept it hey, you know what maybe even cheer for this anchor production unit. as anything but niche. it may never be niche as far as the eye can see. and as you can see, from this

pretty darn far from this extraordinary perch in the gulf of mexico you can see all the way. i like to say there's always a bull market somewhere. i promise to try to find it for you right here on "mad money." i'm jim cramer see you tomorrow investment will face these sharks. if they hear a great idea, they'll invest their own money or fight each other for a deal. this is "shark tank." ♪♪ are samantha meis and connor riley, who want to make your next trip to the coffee shop a thing of the past. ♪♪ hello, sharks. my name is samantha meis. and i'm connor riley. our company is mistobox, and we are here today seeking a $75,000 investment in exchange