Random Update On WMB, ETP, And Spectra -- September 4, 2015

Gasoline prices across the nation going into Labor Day weekend. California is definitely the outlier. After the 3-day weekend, I expect to see gasoline going under $2.00 in much of the south and southeast.

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Update On WMB, Spectra, ETE-ETP

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BloombergBusiness brings us up to date on the WMB story, being "pursued" by ETE-ETP and Spectra:

Energy Transfer Equity LP sees Williams’ natural-gas conduits in the U.S. East, especially one to New York City, expanding its operations into demand-hungry areas. For Spectra Energy Corp., also said to be in talks to buy Williams, the attraction may be the possibility of a tax write-off and the chance to bring more Canadian gas into the western U.S.

The two companies’ starkly different interests in Williams illustrate how complex the financial structure of U.S. pipelines have become. Energy Transfer retains its complicated corporate setup, with controlling interests in multiple separately traded partnerships, while Williams has sought to simplify along with other pipeline owners. The changes come as investors demand ever-increasing cash payouts. Reducing tax rates has become as powerful a driver as strategy.

Nice graphics at the link.

A big "thank you" to the reader sending me the link.