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Oil Remains a Buy for Economic Reasons

By Jim Cramer

About this article:
Oil should have been clocked, right? Think about it: Weak economies, all commodities are going down. Natural gas still flirting with $4. But here we are again, at $40. Now we know that the longer we trade at around $40, the sooner we will be on top of the OPEC meeting, where we will get a big cut in production. There's another reason, though, to buy oil and oil stocks: solar. First Solar is down $24. You know why? It is non-economic, and it is the cheapest solar play because of its proprietary technology. I listened to Obama last night. Sure, he would love to promote clean energy alternatives. Forget about it: If First Solar can't make money at these prices, no one can. I want to emphasize that when you see the alternatives go by the wayside, you are going to see a gradual rally up because: We aren't drilling...

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