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Pipe dreams still alive for select few in US energy rout

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Thanks to master limited partnerships, the private equity firms that back the general partner of Plains All American have received hundreds of millions of dollars in payments.

New York

AN energy-market rout has ravaged fortunes from Texas to North Dakota and hit thousands of small investors, but some tycoons are still coining it in thanks to a piece of financial engineering that has tilted the playing field in their favour.

US pipeline billionaire Kelcy