Kinder Morgan (NYSE:KMI) operates the most pipelines and private terminals of any company in North America, and its combined assets make it the fourth-largest energy company. And the growth in oil and natural gas production that North America will undergo during the next several decades makes it a compelling investment. But where to invest?

Besides the parent company, there are MLPs Kinder Morgan Energy Partners (UNKNOWN:KMP.DL) and El Paso Pipeline Partners (UNKNOWN:EPB.DL), in addition to Kinder Morgan Management LLC (UNKNOWN:KMR.DL). And depending on what kind of account you're investing in, and whether you're looking for income or growth, the choice that's right for one investor could be wrong for you. 

In the short video below, Foolish Contributor Jason Hall gives a rundown of all four of these Kinder Morgan companies, with some insight to help investors understand the implications of choosing one over the other. 

Author's note: It's a good idea to consult with a tax professional to make sure you understand how MLPs would affect your specific situation.