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At the core, the math appears to be “mathing” for Plains All American Pipeline (PAA), as the kids like to say. Structured as a master limited partnership (MLP), Plains All American engages in the pipeline transportation, terminaling, storage and gathering of crude oil and natural gas liquids (NGL) in the U.S. and Canada. As a midstream specialist, PAA stock inherently commands significant relevance. Still, with cynically favorable tailwinds abounding, it could be a top-tier play. Certainly, the market has been eyeballing the enterprise. Since the beginning of the year, PAA stock has gained alm…

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