Saturday, September 17, 2016

Buffett Owns A Railroad And Is The 7th Largest Natural Gas Pipeline Operator In The US -- September 17, 2016

Ranked: Natural Gas Pipeline Owners

Link here

The narrative:
On September 6, Enbridge Inc. announced its purchase of Spectra Energy Corp. Enbridge currently operates 1,800 miles of large-diameter (24 inches or greater) natural gas pipelines in the United States. Before its acquisition of Spectra Energy, Enbridge was the 15th-largest holder of large-diameter U.S. natural gas pipeline miles (including co-owned pipeline), and Spectra ranked fourth in the nation with nearly 9,800 miles.
Enbridge/Spectra's newly combined pipeline holdings are still the fourth-largest overall.
Nearly 82% of large-diameter pipeline miles and 62% of all pipeline miles in the United States are owned by 10 companies.
Kinder Morgan Inc., with 32,000 miles of large-diameter pipeline, has more than double the mileage of TransCanada Corporation, which acquired Columbia Pipeline Group in July 2015.
The merger of Energy Transfer Equity LP (third-largest holder) and Williams Companies, Inc. (fifth-largest holder) that was recently canceled would have resulted in a large natural gas pipeline conglomerate ranked second to Kinder Morgan, which owns about 19% of all U.S. pipeline. 
The graphic:

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Valiant Ambition: George Washington, Benedict Arnold, and the Fate of the American Revolution
Nathaniel Philbrick
c. 2016
DDS: 973.4 PHI
Part II: Secret Motives and Designs
Chapter 7
The Bite of a Rattlesnake


Recap:
  • Gates and Arnold in the north; Bemis Heights; Saratoga; to stop the Brits from getting to Albany
  • Geo Washington in the south; along the Brandywine River to stop Howe from getting to Philadelphia
Now, in the North
Burgoyne surrenders, October 17, 1777; the Battle of Saratoga had changes the course of the war; American General Gates the victor but Benedict Arnold deserves the credit
by October 23, 1777, news of Burgoyne's surrender reached the eastern seaboard; celebrations from Boston to Portsmouth, NH
Geo Washington, King George III, and finally, Ben Franklin in Paris all got the "electrifying" news
Benedict Arnold laid up in bed for the fall / winter of 1777 - 1778; Arnold had been reinstated as major general
Now, in the South:
General Williams Howe (army) had accomplished almost everything he had planned
Howe had bested Geo Washington; the Brits had reached the rebel capital Philadelphia
but Americans had "barricaded" where the Scuykill flows into the Delaware, preventing his brother's (Admiral Howe) ships from reaching Philadelphia (which sites on the Delaware)
the river barricade known as a chevaux-de-frise
Howe unable to take Philadelphia; he resigned, fall of 1777
but Howe still tried to take Philadelphia
Americans' Fort Mifflin, at the confluence of the Schuylkill and the Delaware was the Americans' last hope
Geo Washington's HQ at Whitemarsh, PA, about 16 miles north of Philadelphia
Geo Washington rode south; wanted to see the Siege of Fort Mifflin
Geo Washington had entered one of the most difficult and frustrating periods of his life: Gates had succeeded at Saratoga; Geo Washington had lost Philadelphia
22-y/o Alexander Hamilton was Geo Washington's aide at the time
Gates and his top lieutenants were conspiring against Geo Washington
Fort Mifflin was finally lost, but American resistance was incredible -- p. 184
Brits take Philadelphia
Geo Washington "pondered" what to do next
Gates was the here of the day; mostly due to Benedict Arnold
Geo Washington not doing well; appealed to his generals for advice
Geo Washington did not attack Howe at Philadelphia; he knew that if he lost, the revolution might be over
Geo Washington establishes inter HQ at Valley Forge, 20 miles from Philadelphia
December 19, 1777 -- June 19, 1778: map of engagements, p. 186
 


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