PPG Industries (PPG) may be Cramer’s favorite chemical company, but Dow Chemical (DOW) gains the most from changing nat-gas prices. For every $1 change in natural gas price per British thermal units, Dow’s earnings per share change 31 cents to 40 cents. The company’s expected to earn 27 cents in 2009 but $1.07 in 2010, so cheap natural gas is “huge,” Cramer said, for Dow Chemical.

a $1 drop in natural gas means 24 cents to 28 cents a share to PPG (PPG), a stock which Cramer owns for his charitable trust, Action Alerts PLUS. It also means a 10-cent boost for DuPont (DD), he said, although he's not as big a fan of DuPont.

a $1 drop in natural gas means 24 cents to 28 cents a share to PPG (PPG), a stock which Cramer owns for his charitable trust, Action Alerts PLUS. It also means a 10-cent boost for DuPont (DD), he said, although he's not as big a fan of DuPont.

Cramer said glass and composite makers also benefit. Owens Corning (OC) gets a 24-cent-a-share boost to its earnings from a $1 drop in natural gas, while Owens Illinois (OI), no relation, get a 10-cent boost.

Cramer said glass and composite makers also benefit. Owens Corning (OC) gets a 24-cent-a-share boost to its earnings from a $1 drop in natural gas, while Owens Illinois (OI), no relation, get a 10-cent boost.

US Steel (X) sees a 62-cent per share change in earnings for every $1 change in the price of 1 million British thermal units of natural gas. X is supposed to lose $11.14 a share this year, but make 89 cents a share in 2010, so even a small shift in costs could swing the company’s earnings higher.