Law360, New York (March 19, 2014, 10:39 PM EDT) -- On Feb. 20, 2014, the Federal Energy Regulatory Commission issued a much-anticipated order providing significant guidance regarding its existing policy on market-based rates for interstate oil pipelines.[1] In addressing rehearing of its 2012 order denying a market-based rate application by the Seaway Crude Pipeline Co., which is owned by Enterprise Products Partners LP and Enbridge Inc.), FERC laid out a clearer path for pipelines seeking market-based rate authority. Moreover, the journey to FERC's Seaway rehearing order highlights the significant ferment in the market-based rate arena and touches upon major developments in crude oil transportation in North America....