“Instead of freaking out over the price of gasoline, why not make some money from it,” Jim Cramer told fans of his “Mad Money” TV show Monday. Cramer said the skyrocketing crude oil prices aren’t being pushed higher by speculators, instead he cited three reasons for oils decent higher: oil fields are drying up, its getting harder and harder to find new oil combined with no new discoveries and from the rising demand from emerging markets like China and India. Cramer added a new addition to his must own oil and natural gas stable. He said Petrohawk Energy (HK) is his new pick and he likes the company because its the lowest-cost producer in the sector, besides Southwestern Energy (SWN) and Ultra Petroleum (UPL). He mentioned that Petrohawk is developing shale fields in Arkansas and Louisiana that could add 1.6 trillion cubic feet to its reserves. He thinks Petrohawk could trade up to $48 from its current price of $35. He added the stock to his list of oil and natural gas favorites that includes Devon ( DVN), Southwestern Energy ( SWN), Apache ( APA), XTO Energy ( XTO), Chesapeake ( CHK), Anadarko ( APC) and Ultra Petroleum ( UPL).
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