Why Cramer Is Wrong About Oil Stocks

Three weeks ago, Mad Money host Jim Cramer raised eyebrows after claiming that the oil industry was in the “death knell phase” and that “fossil fuel stocks are now like tobacco stocks”. “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…