Cramer: A Pipe Dream No Longer

When will people truly realize how important the domestic oil and gas finds in the U.S. really are? When will there be an understanding that the Eagle Ford, the Niabrara, the Permian and the Bakken shales may have enough oil to make a real dent on imports and change the way we think about which U.S. companies truly have the potential to be major independent companies? When will people recognize the U.S. is a lot closer to energy independence than we think?

It drives me crazy how little-noticed the changes really are. Take Monday. Did you know that the California Energy Commission released numbers showing that 743,000 barrels of oil were shipped by rail last quarter to California refineries? That's up from 215,000 barrels last year at this time. I almost fell of my chair when I read a newswire report about it. Most of it came from North Dakota and Colorado. While the latter's always been a solid producer of oil, the big increase comes from Noble Energy (NBL). The company has said it will triple oil production from the shale in the next five years from the Niobrara field, which is just about Denver. Overall, Colorado produced 49.3 million barrels of oil last year, a 26% jump from the year before. That's monumental....541 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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