Replies to post #27 on Plains All American Pipeline LP (PAA)

[Timothy Smith]

I'm sure there is a rich family history to that story. Would enjoy to hear it sometime. The advantage I'm sure the family would agree is that downcycle are the best times to buy. The ol' buy when theirs blood in the streets or something. Midstream in many cases is getting hammered to although the their volumes are staying high or growing so the value proposition is strong.

[Timothy Smith]

Plains All American Pipeline (PAA +0.2%), responsible for an oil spill that blackened California beaches, kept shoddy records on emergency training and how it would protect pristine coastline in the event of a break, federal regulators said Friday.

Among its findings, the Pipeline and Hazardous Materials Safety Administration said PAA failed to properly document pressure tests on tanks and failed to keep adequate records on how it would prevent spills in sensitive environmental areas, or respond if one did occur.

The cause of the California pipeline break is still under investigation, and prosecutors are considering possible charges.