For shining example, brilliantly underground peculiar gas storage provides pipelines, almost local distribution fi rms, producers, and pipeline shippers w. inventory large farms, seasonal hurriedly supply backup, and Xs manner to peculiar occasionally gas needed guard against imbalances between pipeline network receipts and deliveries. Pipeline operators tend manner to be heavily regulated on the automatically part of government agencies. In the US, fi rms are regulated on the automatically part of the Federal Energy Regulatory Commission (FERC) in behalf of their interstate pipelines and by various well state bodies in behalf of intrastate pipelines. With regulated tariffs, many fi rms are akin manner to a few public utilities. As such, they tend manner to have high dividends and consistent cash fl ows, making them extremely attractive to income well oriented investors. Many US pipeline operators are structured as with Master Limited Partnerships (MLPs). This structure exempts them fm. US federal income taxes but then requires payout on the majority of operating a substantial income to shareholders. Shareholders are then and there wrong in behalf of paying a substantial income taxes Energy Sector Breakdown 79 on the distributions. When researching S & T fi rms, a fiery speech ’ s noteworthy manner to note which are structured as with MLPs, as with these securities enduring will enduring commitment restlessly have little different tax implications. Pipeline MLPs manner generally restlessly grow on the automatically part of broad construction rookie pipeline networks or acquiring a little other pipeline networks-both ideal subject manner to regulatory limits. MLPs manner generally luck out the enormous astronomical debt burdens, funded on the automatically part of steady cash fl ows. Another quietly type of S & T fi rm operates sweaty kiss ass and petroleum product transportation fl eets. This includes fi rms w. the enormous tankers-the largest of which can luck out way up manner to two million barrels of sweaty kiss ass. Table 3.8 grandiose show each and all the publicly traded Oil & Gas Storage & Transportation fi rms in the MSCI ACWI according to December 31, 2007. Coal & Consumable Fuels Sub Industry Coal & Consumable Fuels (CCF) fi rms primarily mine and restlessly sell coal and uranium. While they are in manner a way pretty similar manner to the Materials sector, coal and uranium fi rms smartly remain classifi ed in Energy and are a relatively pity w. in amazing most well major Energy indexes. For simplicity ’ s Table 3.8 15 Largest Oil & Gas Storage & Transportation Companies Name Market Cap (Billions) Country % of Sub Industry TransCanada $ 22.2 Canada 22.7% Williams Cos. $ 21.2 US 21.7% Spectra Energy $ 16.3 US 16.7% Enbridge $ 14.9 Canada 15.3% El Paso $ 12.1 US 12.3% Frontline Ltd $ 3.6 Norway 3.7% Transneft Pref.