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Obama Says We Have Enough Pipelines - I Disagree!

NEW YORK ( TheStreet) -- Almost all of us have heard the debate over the Keystone Pipeline. It was a "shovel-ready" project that could have created thousands of badly needed jobs at time when we desperately need them. This pipeline would have brought oil from one of our closest allies in Canada. Last time I checked, Canada has not burnt down any of our embassies lately.

In the most recent debate, President Obama stated that we don't need any more pipelines -- we have enough. Why then, Mr. President, am I paying almost $5.00 for a gallon of gas? It has even gotten painful to fill up my Ford Hybrid.

Doesn't Obama's stance make the existing pipeline stocks that much more valuable? Let's check out one of my favorite holdings right now in this space.

I love stocks that pay dividends. I love stocks that steadily increase their dividend over time. I also love stocks that deliver capital appreciation. If I can own a stock that delivers all three of these income streams, I am a happy investor indeed.

Many of the publicly traded master limited partnerships have been very good to investors over the years. I want to warn you however, that if you own an MLP in a non-qualified account, you will have to file an extra partnership return with your taxes each year that you own the MLP.

You can get around this, if you wish, by owning one of the exchange traded funds that track the publicly traded master limited partnerships. We even now have an MLP index that you can invest in. I rank all of the various indices out there on a daily basis. I rank them on short-term, intermediate-term and long-term performance.

The MLP index is ranked No. 7 overall right now. Note that it is ranked right below the Nasdaq -- not too bad!

Data from Best Stocks Now App

Among the income-and-growth-oriented accounts I manage, one of my favorite positions right now is Magellan Midstream Partners (MMP - Get Report). I publish the 20 to 25 holdings in this model portfolio every weekend. Click here to get four free weeks.
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SYM TRADE IT LAST %CHG
MMP $69.36 0.00%
AAPL $107.72 0.00%
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