Dallas, Texas – April 13, 2018 – Alerian announced that Lori Ziebart was appointed to the company’s board of advisors.
Ziebart is the Executive Director of the Master Limited Partnership Association, where she leads the organizations’ operations and engagement with policymakers and the investment community to communicate the significant value that MLPs contribute to the US economy.
Find the original press release here.
For the first time in three decades, Congress and the Administration have taken a historic step to fix America’s tax code and grow our economy with the enactment of the Tax Cuts and Jobs Act.
For 30 years MLPs have successfully operated as Congress intended and now are an integral part of the way our nation raises capital to, among other things, build critical infrastructure for domestic energy supplies, particularly natural gas, natural gas liquids (NGLs), crude oil, refined products and renewable fuels including ethanol and biodiesel. For the past decade, MLPs have invested roughly $30 billion each year in energy infrastructure. These assets serve as the essential link between the production of natural resources and their delivery to consuming markets, without which, the U.S. energy industry could not function.
MLPs provide individuals with a vehicle to invest and participate directly in the development and growth of U.S. energy infrastructure, natural resources, and real estate. Generally, the majority of retail MLP investors (either directly or through funds) are individuals over the age of 50. These MLP investments are particularly attractive to investors reliant on a source of fixed income, such as seniors, because they generally distribute most of their operating cash flow each quarter. The combination of investor demand for income-paying securities and their pass–through status provides MLPs with a lower cost of capital, ultimately supporting a lower cost of energy delivered to consumers.
Understanding that we are going to need over $500 billion dollars of new energy infrastructure over the next decade, Congress rightly decided to take steps to preserve MLPs and their ability to attract lower cost capital through the public markets.
We applaud the leadership of Senate Majority Leader Mitch McConnell, Senate Majority Whip John Cornyn, Senate Finance Committee Chairman Orrin Hatch, Ways and Means Committee Chairman Kevin Brady, House Majority Whip Steve Scalise, Senators Jim Inhofe and Pat Roberts, and all of those Members who actively worked to preserve private sector investment in our energy future.”
The Master Limited Partnership Association Hires Steve Ruhlen as
Director of Federal Affairs
Experienced Washington Veteran Bolsters the Voice of MLPs on Capitol Hill
Washington, D.C. – September 22, 2015 – The Master Limited Partnership Association (MLPA) has announced the hiring of Capitol Hill veteran Steve Ruhlen as the organization’s first ever director of federal affairs.
As Congress continues to deliberate over important tax, energy and regulatory policies, Ruhlen will be charged with educating policymakers on how master limited partnerships (MLPs) generate significant value to the U.S. economy by investing billions in energy infrastructure, supporting hundreds of thousands of jobs, and providing a steady income stream to everyday investors.
“Steve will be an invaluable part of our team in Washington,” said Mary Lyman, executive director of MLPA. “His extensive experience and relationships on Capitol Hill will help ensure lawmakers realize the important role MLPs play in achieving greater energy independence for the United States.”
“Our member companies finance some of those most critical energy infrastructure projects across the country, strengthening both our economic and national security,” said Ruhlen. “I am looking forward to extending the association’s reach and amplifying the voice of MLPs on Capitol Hill.”
Ruhlen has collectively spent more than two decades on Capitol Hill, including roles as chief of staff to Rep. Pete Olson (TX-22) and Rep. Kay Granger (TX-12), as well as former Reps. Henry Bonilla (TX-23) and Lee Terry (NE-2). Additionally, Ruhlen served in the White House as deputy assistant for legislative affairs to Vice President Dick Cheney, and as a senior vice president at JP Morgan Chase & Co., spearheading the company’s federal government affairs.
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About MLPA: The Master Limited Partnership Association (MLPA) is the nation’s only trade association representing publicly traded partnerships commonly known as master limited partnerships (MLPs). MLPA is an outgrowth of an informal lobbying organization formed in 1983. For more than three decades, the association has been successful in promoting the interests of MLPs in Washington, D.C. and the states. For more information, visit MLPAssociation.org.
NAPTP Becomes the Master Limited Partnership Association
Trade group rebrands to solidify its role as the Voice of America’s MLPs
Washington, D.C. – September 8, 2015 – The advocacy group formerly known as the National Association of Publicly Traded Partnerships (NAPTP) today announced it has officially rebranded itself as the Master Limited Partnership Association (MLPA). MLPA remains the nation’s only trade association representing the MLP industry – working to advance the needs of companies, investors and service firms alike.
“For more than 30 years our organization has adapted to reflect the changes in the MLP marketplace,” said Mary Lyman, executive director of MLPA. “Our rebrand is yet another example of how we strive to represent a dynamic industry and, more importantly, position ourselves to be the strongest advocate for our members in Washington, D.C. and across the country.”
As part of this initiative, the association also announced that a newly redesigned webpage – www.MLPAssociation.org – would serve as the digital home for both members and external audiences. The site includes resources for investors and policymakers, as well as trade media interested in following the association’s activities.
“We are excited to see the next iteration of our association come to life with the new name and to solidify MLPA as the ‘Voice of America’s MLPs’ when it comes to navigating the public policy challenges and market growth opportunities that lie ahead,” said Randy Fowler, chairman of MLPA and a director and chief administrative officer of Houston-based Enterprise Products Partners L.P.
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About MLPA: The Master Limited Partnership Association (MLPA) is the nation’s only trade association representing the publicly traded partnerships commonly known as master limited partnerships (MLPs). MLPA is an outgrowth of an informal lobbying organization formed in 1983. For more than three decades, the association has been highly successful in promoting the interests of MLPs in Washington, D.C. and the states. For more information, visit MLPAssociation.org.
In its comments, the Master Limited Partnership Association (at the time known as the NAPTP), expresses concern that some aspects of the proposed regulations are inconsistent with congressional intent in enacting section 7704 and with longstanding interpretations of that statute. The MLPA also addressed how it is working with its members to fully analyze all aspects of the proposed regulations and plans to provide the IRS with detailed comments and additional feedback on the proposals.
For more information, click here.
IRS ISSUES PROPOSED REGULATIONS UNDER SECTION 7704
The Internal Revenue Service (IRS) recently issued new proposed regulations which address the definition of “qualifying income” for natural resource Master Limited Partnerships (MLPs) under section 7704 of the U.S. tax code. The proposed regulations do not impact the vast majority of activities undertaken by MLPs and when finalized should provide helpful guidance as to whether an activity generates income that can be properly taken into account by an MLP.
The National Association of Publicly Traded Partnerships (NAPTP) believes that the proposed regulations are a thoughtful and carefully prepared effort by the IRS to develop workable standards to guide activities under section 7704. Nonetheless, we are concerned that some aspects of the proposed regulations are inconsistent with Congressional intent in enacting section 7704 and with longstanding interpretations of that statute. We are also concerned that the IRS’ decision to propose specific and differing rules for each petroleum product treats some natural resources and the processing of those resources more favorably than others, again in a manner not intended by Congress.
NAPTP is working with its members to fully analyze all aspects of the proposed regulations and plans to provide the IRS with detailed comments and additional feedback on the proposals. We look forward to actively working with the IRS to ensure any future regulations accurately reflect congressional intent and current practices in natural resource industries in applying the MLP provisions for natural resources.
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Click here for the text of the proposed regulations.
Trade Organization Representing MLPs Announces New Name
National Association of Publicly Traded Partnerships to be named
Master Limited Partnership Association
Washington, D.C., May 20, 2015 – The advocacy organization known as the National Association of Publicly Traded Partnerships (NAPTP) will change its name to the Master Limited Partnership Association (MLPA). The organization is the nation’s only trade association representing publicly traded partnerships in Washington, D.C. and across the country.
“Our market has evolved over the years and now there are more than 100 MLPs,” said Mary Lyman, executive director of NAPTP. “The organization’s new name, Master Limited Partnership Association or MLPA, reflects the majority of our membership and how we are most commonly known among companies, investors, and policymakers.”
The organization will announce the upcoming change at its annual investor conference in Orlando, Florida, noting that a new logo, brand treatment and website will all debut in a formal rollout by the end of the summer. In addition to the new brand, the association will use the tagline “The Voice of America’s MLPs” in its marketing and communications.
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Can our Infrastructure Keep Pace with America’s Energy Renaissance?
The administration is pushing for greater investment in energy infrastructure for good reason—the United States is experiencing an energy renaissance, the likes of which we’ve never seen. Yet despite production levels reaching all-time highs, we as a nation will not be able to realize our full energy potential until we solve the challenge of updating and expanding our current infrastructure network. And to do so will require massive amounts of new investment each year, for decades to come.
In fact, a recent report by ICF International concluded that the United States and Canada will require a total investment of $641 billion in natural gas, crude oil and natural gas liquids infrastructure by 2035. Where should this funding come from? What’s at stake if we fail to build the pipeline, storage, and processing assets required drive our energy economy forward?
The good news is that additional government spending is not nor should not be required when it comes to building out our privately financed natural gas and natural gas liquids infrastructure. Clearly our political leaders do have an important role to play by making a commitment from a policy perspective to support infrastructure development and that’s where master limited partnerships (MLPs) play a critical role.
Congress authorized the use of MLPs more than 25 years ago, recognizing the need to stimulate financing in a capital intensive industry like energy infrastructure. Fast forward to today, and MLP companies are busily constructing an expansive energy network just as policymakers intended. Recent MLP investment totaled nearly $157 billion across the country (2007-2014), with more than $29 billion just last year.
That continuous investment is making a tangible impact. MLPs now operate in every state, producing, processing, transporting, storing, distributing energy products to meet the needs of American homes, businesses and communities. Our economy depends on the free flow of energy supplies and MLPs play a critical role in this activity.
Our directive is clear. We recognize the need for energy infrastructure today; we have identified the energy demand that lies ahead; and we understand the consequences of failing to invest in our energy future. Therefore, the answer to the challenge ahead of us is to continue to support the proven tool that is the MLP structure. Fortunately, most members of Congress already do, and it’s that continued support which will help turn our energy potential into reality.
By Mary Lyman, Executive Director, The Master Limited Partnership Association (MLPA)
Originally Published in National Journal’s Energy Experts Blog, 04/28/15
In its comments, the Master Limited Partnership Association (at the time known as the NAPTP), recommends that Congress continue to preserve the ability of business enterprises to choose the structure that is the most efficient and effective for their particular business activities. The MLPA asks that publicly traded entities that are currently able to choose pass-through taxation be allowed to continue doing so, avoiding slowing our nation’s progress towards energy independence and costing jobs.
For more information, click here.
As a historic energy revolution continues to unfold in the United States, it is increasingly clear that our outdated and insufficient infrastructure may hold us back from fully capitalizing on it. While abundant oil and natural gas resources and the current oversupplied crude market translate to cheaper energy for consumers, the excess needs to be stored for the current production capacity to remain active—but this storage infrastructure is rapidly approaching maximum capacity.
In fact, according to a recent Bank of America Merrill Lynch analysis, crude oil storage in the U.S. could be completely occupied by the end of March or early April. With inventories at 80-year highs, hitting capacity would cause prices to plummet—which might be good for consumers in the short-term, but would cause ripple effects across the energy industry and could hurt long-term production.
Building more storage capacity would help mitigate the problem, but it’s also very expensive. This is where master limited partnerships (MLPs) can play a critical role. MLPs were created more than 25 years ago and authorized by Congress to stimulate financing in capital-intensive industries. MLP companies are primarily engaged in midstream energy activities (pipeline construction, storage, processing, terminal facilities, etc.), and are an integral way that our nation’s private sector finances the construction of new energy infrastructure assets.
Raising the billions in capital needed for additional energy storage is a key part in achieving an even more important objective — genuine energy security. We find ourselves blessed with the natural resources needed for self-sufficiency, but now the U.S. needs to make the investments required to turn our energy potential into purpose.
That investment will be significant. ICF International notes that the U.S. and Canada will require a total investment of $641 billion in natural gas, crude oil, and natural gas liquids infrastructure by 2035. In response, over the past several years more than 20 new MLPs have been established. These new MLPs are working to ensure a wide variety of energy products make their way efficiently and safely from the production fields to American homes, businesses and communities. In 2014 alone, MLPs invested more than $29 billion across the country—helping the U.S. better harness the energy resources needed to drive our economy and power our future.
Our political leaders in Washington understand the crucial role energy infrastructure plays in moving our economy forward. However, in order to ensure MLPs help meet rising demand, it’s imperative that politicians continue to foster a favorable regulatory environment that incentivizes investment and infrastructure construction.
MLPs won’t single-handedly solve our energy infrastructure and storage issues, but they’re an essential element to fully harnessing America’s bright energy future.
By Mary Lyman, Executive Director, The Master Limited Partnership Association (MLPA)