What do rising interest rates mean for MLPs?

There were six periods in the past 20 years in which interest rates rose, and MLPs performed very well in five of those periods.  

An improving economy will mean more projects. There are plenty out there because of the shale revolution.

With increasing demand we should see more volume through the pipelines, which means increased revenue for MLPs. Ultimately, this is about the ability of the MLP to continue to grow. Distribution growth mitigates rising rates. Ultimately we believe that natural gas will become a more important source of grid power replacing an aging coal fleet here in the US. 

According to Wood Mackenzie demand for Natural Gas in  North America is expected to growth by over 40% in the next 15 years.

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