Oil pipeline operators' net income soared to an all-time high of $6.1 billion, a 33.3% increase from 2010 achieved on the back of a nearly 12% increase in operating revenues. The resulting earnings as a percent of revenue of 48.6% were also a record. The strong bottom line coincided with a more than 47% drop in changes to carrier property, as companies pulled back from major additions

Natural gas pipeline operators meanwhile saw their profits slip more than 6% from 2010's high to less than $4.9 billion. The dip in net income came despite a 3.8% increase in revenues, which reached more than $20.5 billion, their highest level since 2007

Natural gas pipeline companies' weaker bottom lines, in contrast to oil carriers, came at least in part as a result of surging capital expenditures, with additions to plant totaling more than $14.4 billion (a 178% increase from 2010). Roughly $6.35 billion of this total, however, comprised just two projects; expansion at Florida Gas Transmission and building the Ruby Pipeline. Expenditures on operations and maintenance rose 5.3% to slightly more than $7 billion. Proposed newbuild mileage, however, was just 50.3% of 2010's announced build, while planned horsepower additions of 184,405 were 79% of 2010's total.