Plains All American Pipeline L. P Revenue and Competitors

In the early 1990s, we recognized that fundamentals in the crude oil industry were foreshadowing the need for increased movements of crude oil into the Midwestern region of the United States (also known as PADD II). In 1993, in response to that need, we built the Cushing Terminal, our first major asset, which was strategically located in Cushing, Oklahoma – the Southern gateway for incremental pipeline movements to refining centers in the Midwest. Our Cushing Terminal, which has since been expanded to over two & one-half times its original size, serves as the cornerstone of our business strategy that is designed to capitalize on logistical inefficiencies inherent in the North American crude oil distribution system. Throughout the 1990s, we achieved growth through a combination of internal projects & accretive acquisitions. In 1998, following our acquisition of the All American Pipeline System, we achieved the critical mass necessary to access the public equity markets. On November 17, 1998, Plains All American Pipeline, L.P. completed its initial public offering as a master limited partnership & began trading on the New York Stock Exchange under the ticker symbol “PAA.”