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Kinder Morgan Energy Partners, L.P. Message Board

  • saiani saiani May 31, 2013 4:23 PM Flag

    Here is one reason we got hit hard today:

    Kinder Morgan Energy Partners LP (KMP:$83.40,00$-1.43,00-1.69%) said Friday it has cancelled plans for the $2 billion Freedom pipeline, a conduit that would have brought a direct stream of West Texas crude to refiners on the U.S. West Coast.
    The cancellation underscores the growing difficulty pipeline companies are having in selling new large-scale projects as oil producers and refiners increasingly rely on railroads to ship crude around. Once seen as temporary necessities to deliver oil from emerging oil-producing regions in Alberta, Texas and North Dakota, railcars have become a permanent fixture of the North American energy landscape because they allow refiners more diversity of supply.
    This trend means that pipeline giants like Kinder Morgan will have to focus on smaller pipeline projects and branch out into other transportation segments, said Darren Horowitz, analyst at Raymond James.
    "It's probably the smaller-scale, smaller-scope projects getting built, not the multi-year, billion dollar type projects," Mr. Horowitz said.

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