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Why Cramer Is Wrong About Oil Stocks [Yahoo! Finance News]

Altria Group, Inc. (MO) 
Last altria group, inc. earnings: 4/30 07:00 am Check Earnings Report
US:NYSE Investor Relations: altria.com/investors
Three weeks ago, Mad Money host Jim Cramer raised eyebrows after claiming “I’m done with fossil fuels ... they’re just done. We’re starting to see divestment all over the world,” Cramer said. “You’re seeing divestiture by a lot of different funds. It’s going to be a parade. It’s going to be a parade that says, ‘Look, these are tobacco and we’re not going to own them,’” Cramer opined in his usual fashion. In the past, Cramer has received plenty of blowback about his stance on fossil fuels, and this time it was not any different. The polemic by the hard-hitting former hedge funder rubbed many in energy circles the wrong way, with some finding the claims flippant and outlandish. One aggrieved respondent was Chevron Corp Oil Not in Terminal Decline Wirth said it’s unfair to compare the oil and gas industry to tobacco because oil actually plays a big role in the global economy, while tobacco can be more easily done away with. “The reality is the world runs on the energy system that we have Show less Read more
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