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MLPs
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Re: PAAPAA is one of the highest rated and recommended MLPs in the sector. I hold PAA and will definitely add under $45. ETE is by far my largest MLP holding and when market correct hits, ETE will be my first addition. Reports filed with federal regulators show that Plains All American, the company involved in the California oil spill, and its subsidiaries operate more than 6,000 miles of hazardous-liquid pipelines in at least 20 states. Those companies handle over 4 million barrels of crude and other liquid fuels daily. Since 2006, the companies have reported 199 accidents and been subject to 22 enforcement actions by federal regulators. The accidents resulted in a combined 725,500 gallons of hazardous liquids spilled and damages topping $25 million. A federal database shows enforcement cases against the companies resulted in collection of $154,000 in penalties, for violations including not doing enough to prevent pipeline corrosion, failing to inspect valves frequently enough and not preventing lines from being over-pressured. The company says safety is a core value. |
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