The exchange of KMI for KMR is not a taxable event (c-corp shares for c-corp shares). KMI for KMP (c-corp shares for MLP units) is a taxable event because it is not like-for-like transaction. Taxes are due on the value of KMP units as well as all previous distribution of capital - ouch!
Sorry Norris, but you have once again gotten confused. I am not a Progressive. I do not support our President nor any of his objectives, most of which I view as anti-American and with the real intent of lowering America's world standing. So, you will have to address your Jon Stewart man crush issues to someone else as I do not watch his show.
Folks that want to see your prattle on will KMI buy upstream or producing assets like LINE can follow the tread.
But as the holder of the olb mind guess you are the board entertainment this morning. ;)
Whether or not electrical transmission is needed to save the grid from Obama irrational assault of imposing inefficiency and variable base load alternative while shutting down modern coal capacity is one question.
Not forgetting the last cyclical cold spell which disrupted national ng supply all the way to California.
Whether KMI would have any rational interest in such a thing is another.
If Mr. Kinder wanted to be in a utility business it would have been best to simply leave KMI as it was. A large secure utility business with some growth with incremental connections to the system.