Kinder Morgan Energy Partners (NYSE: KMP ) had a great plan to convert some natural gas pipelines owned by El Paso Pipeline Partners (NYSE: EPB ) into a crude oil system that would feed California refiners with West Texas crude. It looked like a win-win situation; after all, what refiner wouldn't want to replace expensive foreign imports with the cheap, homegrown stuff?
As it happens, the refiners want domestic crude, but they don't want a 20-year pipeline agreement. In this video, Fool.com contributor Aimee Duffy takes a look at who is passing on Kinder Morgan's crude and why.
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