Plains All American Pipeline LP (PAA)

[iheartweimers]

Yes, I know. Funny thing about that is that the pps remained
unchanged. I sold out when the news of the spill hit the TV
news and watched the pps climb $2 a share and stay there
for a couple days while the PR's were pumped out daily by
the PAA investor relations office. Various analysts pointed
out that the shut down pipeline contributed only a tiny
fraction of the PAA bottom line, and even considering the
cleanup cost and a hefty fine from CA (disregarding completely
any responsibility the state had to permit and inspect, by the
way) that could be expected, the company was in good shape.
So I doubled the position I originally held, as I loved the
dividend. I admit I bought back too soon, as now I am down
a few bucks. If it goes down more, I will add more. Word is
that this spill really didn't do much damage. Nasty secret
in CA is that oil bubbles to the surface sometimes when the
constantly moving earth plates grind and open up seams
in the ocean floor. The Hollywood faux environmentalists
can't seem to stop it no matter how many carbons they put
in the air from their private jets as they travel to protest.
Go PAA.