Plains American has the largest storing Capacity at the largest storing hub in the USA ...Cushing OK where they own 25% of the storage. They get paid to store oil. It was 20 cent barrel now 50 cents. $360 mil extra earnings straight to the bottom line. The other contango play is owners of super tankers the day rate just went from $90,000 a day to $180,000 striking it rich in the oil glut. PAA gets paid to move oil so volume of oil moving is what matters to their business not price of oil. This is one baby that was just thrown out with the bath water. Those pipelines will be paying profits for decades. The fat distributions are a return of capital so not taxed. The only better investment than pipelines are timberland because the trees always grow no matter what and like oil always need timber. They are also tax havens.
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