While Plains All American (NYSE:PAA) was already a big name with its 19,000 miles of pipeline, the company is now making a big move in strengthening its rail fleet, having invested $1 billion in rail depot projects over the past three months. This will not only leave the company much better equipped to deal with the growing need for huge amounts of takeaway capacity in the coming years, it will also allow PAA to deliver oil and natural gas to urban coastal areas where pipelines can't be built. And because the company is transitioning more into a fee-based business model, it gives PAA a dramatic increase to its guaranteed cash flow.

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