Jim Kramer is always wrong. If he says the sky is blue, it’s cloudy. If you want to be correct, do the exact opposite of what he says.
I’ve been watching his schtick for years, and I have yet to see him make a single correct prognostication.
Jim Kramer is always wrong.
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Cramer got his talking points from Mike Mears. Here’s the quote from the article above.... (nor is the idea improbable. Permian production started 2014 at 1.3 million barrels@ day. It will end 2014 at nearly 2 million barrels@ day production.)
But the Permian is 1.7 million barrels and it is conceivable that it could DOUBLE over the next two years. That’s right, double.
Last night, I asked the CEO of Magellan Midstream Partners (MMP) , Mike Mears, and he didn’t rule it out. Why would Mears know? Because he runs the biggest pipelines out of the Permian. He told me the numbers jump every single day and the more pipe that gets laid, the more we are going to pump.