I have done extensive research on the MLP model and there is a big debate on free cash flow and distributable cash flow, which is net of cap ex. KMI though a corporation has MLP traits. The market does not know how to value MLPs, or corporations such as KMI. I had a 1% allocation in MLPs, took that to 2% in July and now 3% as of yesterday. I like MLPFX, Oppenheimer, but overlayed that with AMLP yesterday so I can trade it intraday. I own a tiny bit of KMI, some WMB, and SE in my 3% weighting. Still have a profit on WMB! The better names in midstream will not only be able to maintain their distributions, but increase them. I read the quarterly commentary after the close today from the Goldman MLP & infrastructure fund and though there is a greater dispersion in projected distribution rates from GPs, the confidence in the overall rate of increase is still there. Bottom line, MLPs and corporate entities like KMI are priced as if their business model is unsustainable and the reality is there is misinformation in the market place about coverage ratios as they relate to free cash flow/ distributable cash flow. There was a prominent article in September that MLPs with less than a 1 coverage ratio would need additional capital to maintain distributions. This is misinformation. The coverage ratios include capex, so MLPs can have less than a 1 ratio, and still be in excellent shape to maintain and even increase distributions without any capital market infusions. After the tax loss selling and margin induced selling abates, quality midstream MLPs and I suspect KMI will continue their distributions, and even increase them. When the market understands this, there will be a violent snap back rally. I can't think of a asset as mispriced as MLPs are today in my twenty five years on Wall Street. If you don't own MLPs, this is a golden opportunity as the price of oil has little to do with their ability to pay distributions in the midstream space.