Credit Suisse reported that mgmt sees Longhorn's returns at 3x ebitda. That is the power of organic growth... you cannot come close to buying growth and this is an example of why these organic growth focused MLPs with assets in prime locations are THE MLPs to own for the mid to long term.
Don't panic, I agree........once the reverse flow of the plains pipeline is complete, the oil will start to flow from Cushing storage. Magellan has substantial storage in Cushing ready to flow to refinery at higher WTI prices.
The bottleneck still exist, it just has a relief valve to augment more flow. MMP will benefit.