Bloomberg BNA — The Senate Committee on Natural Resources and Water Quality advanced measures April 8 seeking to impose a moratorium on hydraulic fracturing activities at oil and gas fields in California and to update the state's oil spill response program to address the risks of importing crude oil by rail.
“Blind luck” is how Jack Johns characterized his 16 percent profit on something he read about on the Internet called Master Limited Partnerships. Johns, a retired postal worker from Rincon, Georgia, said he sold his MLP investments within a year because he realized he didn’t really know what he’d bought.
Kinder Morgan Energy Partners LP, the second-biggest U.S. pipeline company, fell the most in almost four years after a Barron’s article said the partnership has overstated cash flows and is overpriced.
Kinder Morgan Inc., which manages more than 80,000 miles of gas, oil and carbon dioxide pipelines, was sued in Delaware by an investor seeking damages for alleged improper distribution of affiliates’ profits.
Kinder Morgan Energy Partners LP, the second-largest U.S. natural gas pipeline operator, agreed to buy American Petroleum Tankers and State Class Tankers from private-equity firms Blackstone Group LP and Cerberus Capital Management LP for $962 million in cash.