JJC:    With Cramer-fave coal stocks, Peabody Energy Corp. (BTU) and Arch Coal Inc. (ACI), just pulling back from their 52-week highs, with the Dow flirting with multi-month lows... I think the market may be trying to tell us something. I think it's trying to tell us that coal is going to be bigger in this country than any environmentalist would want it to be. And that's why tonight I want to talk about the chimera of clean coal. Why do I call clean coal a chimera... not to confuse it because some people think it's the "shimera"... It seems like many politicians in this country from John McCain to Barack Obama think we are on the verge on an era of clean coal technology. Somehow, just a few more bucks and we had it... McCain yesterday called for spending 2 billion dollars a year to making coal a reality... and Obama's touted to supporting $200 million in funding for clean coal as one of his legislative accomplishments... Don't they all seem to think that we're close?... That this kind of money would make a difference?... From where I'm standing, though, that just isn't true. You can no more get clean coal than you can get this stuff off my hands.

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You see, I don't think the politicians are lying... I think they are clueless. I doubt they've checked with any of the companies that might actually be making clean coal technology to see if it's feasible any time soon. It reminds me of how it's just like how they didn't check with Tyson foods or any of the other food companies before they passed the ridiculous ethanol mandate, that caused 3% of gasoline to be made by 30% of our corn crop... and then skyrocket the price of everything from chicken to cattle because of it. See, these politicians just don't seem interesting in existing incremental solutions. I've been thinking a lot about it and I think that what they are, frankly, are victims of what I call magical thinking... That if they invest enough money, they'll come up with some perfect clean coal solution... like it's some sort of baby wipe...

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A clean coal solution sounds really cool doesn't it?... But let's be real... it won't be viable for years and years and they don't seem to want to get their hands dirty with the nitty-gritty stuff, the stuff that companies do to solve problems, the companies that we like in Cramerica. See, those little incremental changes just aren't grandiose enough for the politicians. I think clean coal, if not a chimera, is at least an enigma... it seems to have a lot of people in this country very confused... We're going to end that confusion in tonight's show. Right now we have the technology to clean the sulfur, clean the nitrogen, and clean the mercury emissions out of coal... should be enough right?... uh, uh... Because we don't have, and aren't close to... the thing that's so important to everyone: the technology to get rid of carbon dioxide emissions from the coal... or any cost-effective technology for truly doing that on any wide-scale system... it's years and years and years away... years. Now, no politician would admit that... we're telling you it's true. Okay, what's our edge?... What's our axe?... We do research. So tonight I'm going to do two things. I will explain my understanding of the technology we have and what's on the horizon... And then I'm going to give you two companies that I believe have the best incremental technology for not clean coal... that's not going to happen... forget clean coal. When they say that what's known as deko's underneath, those little yellow things... doesn't know what he's talking about... doesn't have a clue... okay? We need that. That thing right there... doesn't have a clue. These people have no clue. Or how about: Cramer has clue. Alright... alright anyway... Perhaps truly clean coal will happen sometime in the future but... lies, lies... Now, the two big established technologies that I know of right now for cleaner coal are called Flogas desulfurization, and people use the symbol... the acronym FGD. These are scrubbers, okay? Giant scrubbers, and they... what they do is clean the coal... the emissions. And then there's another thing called Circulating Fluidized Bed Technology, and that's CFB... And that's from the boilers... so boilers, scrubbers... okay? The best scrubbers remove 95% of the sulfur dioxide from coal... The best boilers get rid of around 90% of sulfur dioxide and a lot of nitrogen oxide. These aren't getting rid of carbon dioxide... that's true clean coal... No, forget it. Lies, lies, lies. They're the technologies that prevent from dirtying up our air... but they don't stop global warming. And they're where the money is right now, despite the politicians insisting that well, it's just a few more bucks... here, we'll just take this money, right?... and suddenly this will be turned into clean. No!... Technologies like carbon... sequester... which is what Duke Energy (DUK)'s working on... Forget it... it won't be ready for commercial deployment until at least 2012.

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How about Oxycoal?... That's another one we keep hearing, right?... That gets rid of a lot of CO2 emissions from coal... deep development... it's just not that feasible. Maybe not even feasible within 10 years, despite what the politicians are telling you. And since we know we got to use coal, because we got a lot of it... We have to look at the companies with the best scrubbers and boilers...okay? The ones that can give us cleaner coal... not clean coal. Cleaner coal... coal can not be clean. Maybe one day it can be... but it's fiction right now. I've got two new technology clean coal stocks. And because I'm a tease, I'm going to save the best one for after the commercial break... that's a company that's going to live or die by alternatives... so it's completely devoted to finding better technologies for cleaner coal and other forms of technology. The first one is a stock that I have been buying endlessly for my charitable trust and why I constantly tell you to buy it. It's the infrastructure and technology fave, Foster Wheeler. That's why we always talk about it here. FWLT. See, this company is making cleaner coal right now. At the same time that... let's contrast this new tech of FWLT with some of what we think about old tech. It's always helpful, I think, to contrast them. New tech, FWLT is trying to make cleaner coal... "Old Tech," take two, is trying to develop cleaner kills, in Grand Theft Auto 4... Which is more important?... Grand Theft Auto 4, and killing people better or actually trying to clean coal?... I'll tell you what I think. It's time to recognize that the best old tech companies... all they're trying to do is stop hackers... or make mediocre sales-people hit their Dunder-Miflan (i.e., reference of fictional paper company in NBC's sitcom, The Office) stretch targets. It's just remarkable how bad and irrelevant Silicon Valley is... If new tech plays like FWLT, decided to start focusing on video games and costumer retention software and faster telecommuting instead of cleaner coal, we'd deplete the ozone layer overnight. Back to FWLT. Our first cleaner coal play. The company is a leader in these coal fluidization boilers... the ones that are designed to remove 95% of the sulfur dioxide from coal. They've sold 300 of these worldwide. According to management, they're working on... I've looked at the research papers on the website, www.fwc.com... yeah, I read the research papers because I lead a really exciting life... They're working on the first super-critical boiler that runs at a higher temperature with more efficiency... that might reduce some carbon emissions... that's the incremental technology the politicians should be talking about. FWLT also has an alliance with Praxair Inc. (PX), another stock we like, to develop an oxy-coal combustion technology that's being tested in New York. That's real clean coal with lower CO2 emissions. But right now, it's the boilers that are making the money. You got an opportunity in FWLT... its stock isn't flying here... and partly because the company said that its North American boiler orders were getting dragged out, causing a sell off... A lot of that is because the politicians want to agree to a standard. We brought their CEO on the show back, May 7th, Ray Milkovich... Okay, the stock was at $65 bucks, everyone was all worried and stuff... He reiterated the company outlook, the stock just moved 14%... I don't think it's done. FWLT only talked about two instances of delays... said this meant nothing for 2008-2009 earnings... You know we've been backing the stock for... I mean it's like what we feel for the fertilizer stocks... besides, there seems to be a lot of other great things going on at FWLT, as long as oil prices keep staying higher. Its engineering construction group should remain strong... And as energy demands expected to grow 40% between 2005 and 2030, we need these guys for oil and gas infrastructure, powerplants and especially liquefied natural gas... Which, according to FWLT, is going to increase sharply from 8.7 billion in 2006 to 25.4 billion in 2011... that's actually a small time frame. FWLT builds the LNG facilities. Everyone's worried about China putting in a tower for oil... making so its not subsidized... Forget that. This is about the big solution. So what we have here is a company that's helping to make cleaner coal, maybe eventually clean coal, with a lot of great energy structure businesses that have been on fire. What's not to like?

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After this segment, you can see Jim's Lightning Round picks here...