my sense is people panicking in everything not just MLPs...look at CEF funds in all spaces. retail hears cliff, taxes, worry and sells. most people dont know MLPs when you sell are already ordinary income. they are tiny rel to tax situation and are responsible for buildout of energy infrastructure. it isnt going to change.
In a worst case scenario the Dem's will try to eliminate all MLP's and make them convert to corporations, they tried this two years ago when they controlled the house and senate..The Canadians did this very thing a few years ago with their Trusts.Check the long term chart and dividends of PWE, it was one of my holdings.