Investment vehicles that funneled more than $100 billion into U.S. pipelines, storage and other facilities during the shale boom now face an existential crisis after oil tumbled so low that it upended assumptions about risks and returns they offer. Those tax-protected structures were the Holy Grail of energy investing during the upswing, combining hefty payouts made possible by fast growing energy bloodstream with some protection against oil’s ups and downs offered by the “midstream” segment. The collapse in stock prices of such master limited partnerships as Plains All American and Energy Transfer Partners shows such protection proved illusory once global oil prices reached depths that began threatening survival of their customers – oil and gas producers. A sharp selloff at the start of the year left crude prices hovering around $30 per barrel, below break-even levels for most drillers, fuelling expectations that many may seek protection from creditors this […]