Energy Transfer Lowers 2016 Capital Budget by $750M

Energy Transfer Partners (ETP), a huge midstream company in the process of buying out Williams, another huge midstream company, announced yesterday they are scaling back capital spending in 2016. Last November ETP forecast they would spend on the order of $4.95 billion in 2016. That number is now $4.2 billion after ETP identified $750 million in further cuts it will make to the budget…

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