EPD To Buy Rest of Duncan Energy Partners

Link here.

Some data points:

• Duncan had been formed by EPD in September, 2006
• Will add about 9,400 miles of gas pipelines to EPD's 50,200 miles of current gas pipeline infrastructure
• Co-founder of Duncan Energy (DEP) dies about one year ago
• Expected to close by 3Q11

Minor Updates on the Bailey Oil Field -- Bakken, North Dakota, USA

It looks like it takes about 3 years for wells in the Bailey Bakken to get to 100,000 bbls.  A lot of folks would like to see faster return on Bakken wells, but if these wells produce for 30 years, this is still quite incredible.

Link here -- just minor updates.

Total (French Energy) Takes Controlling Interest in Sun Power -- SeekingAlpha

Link here.

This reminds me of Enbridge doing the same with buying solar farms in Canada.

Margins on solar panels, along with subsidies, tax breaks, grants, "cap and trade" opportunities, all make solar a great fit for oil companies. According to the article, Sun Power's margins are 20 percent. According to Yahoo!Financial, XOM's profit margin is 9%.

In addition, the great "PR" that fossil fuel companies will get by buying solar is incredible. BP was transforming itself into a "green" company before the oil spill.

Enbridge Family of Companies With Lots of News Today

EEP and EEQ: 2-1 split completed today.

Earnings and distribution.

EEP to expand Haynesville infrastructure.

ENB splits 2-1.

CVX: Profit Rises 36%

Link here.

Five Canadian Oil Companies Paying More Than 4 Percent -- SeekingAlpha

Our neighbor to the north seems to have a better understanding of the importance of their natural resources.

Link here.

The article features Baytex, Enerplus, Pengrowth, Provident, and Penn West. At least two of them (Baytex and Enerplus) are operating in the Bakken. 

XOM: Paid $1 Million / Hour in Taxes -- SeekingAlpha

This is not the first time this has been posted. For me, it cannot be retold often enough.

Link here.

The administration's attack on XOM reminds me of The Goose That Laid the Golden Eggs.

GE paid no federal taxes in 2010. The GE/CEO is the president's economic adviser.