Last week's announcement by Enbridge (ENB) to acquire all of its MLPs, including the golden goose from the Spectra Energy merger - Spectra Energy Partners (NYSE:SEP), was yet another blow to the beleaguered MLP sector. That is especially true considering there was little or no premium paid to the MLP unit-holders. While Enbridge cited the need to simplify its corporate and capital structure under one listed entity, it also mentioned risks related to the FERC MLP tax allowance elimination.

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