January 25, 2013

It Pays to Own an Energy Pipeline. Thanks, Tax Code

Zach Mider, BusinessWeek


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Getting stiffed for the top job at Enron was the best thing that ever happened to Richard Kinder. In 1996, Kinder, then the company’s president, was beaten out for the chief executive slot by his college buddy Kenneth Lay. So Kinder struck out on his own. He and a partner, Bill Morgan, paid $40 million to acquire “sleepy, old pipelines” from Enron, which was shifting its focus from delivering energy to trading gas and power. . .

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TAGGED: Kinder Morgan, Tax Code, Taxes, Energy Industry, Enron, Oil Pipeline, Oil, BusinessWeek

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