The U.S. energy infrastructure is entering a new phase of transformation, and Kinder Morgan stands to benefit significantly. One of the country's largest oil and gas pipeline operators has joined forces with refining giant Phillips 66 to jointly build Western Gateway Pipeline - a new transportation system for refined products that would link Texas refineries to key markets in the American West. The project, which is scheduled for completion by 2029, represents not only a significant infrastructure investment, but also a strategic shift in the direction of diversifying Kinder Morgan's revenues beyond its traditional natural gas segment.

As California faces a gradual decline in refinery capacity due to stricter environmental regulations and plant closures, there is room for new supply routes. Western Gateway is designed to compensate for this shortfall - offering a steady supply of gasoline, diesel and other products from central and southern U.S. states. For Kinder Morgan, this is an…