As the dust begins to settle over the big news this week that Kinder Morgan Inc. would absorb its MLP business units in a blockbuster $71 billion transaction, questions of whether the MLP structure itself is doomed have emerged.

Not necessarily, the experts say.

“Given the markets end up rewarding parties for converting to corps in terms of valuation and share price, I’m sure there will be some other companies that will evaluate the idea, and you may see others follow their lead in terms of going down that path,” said Jason Spann, a partner at Deloitte Tax LLP.

“But I wouldn’t expect to see a mass shift overnight of MLPs suddenly announcing conversions to corporations. I think that may be a longer term possibility or trend, and that may be impacted by where interest rates go and where the interest rate environment goes as well. So it will be driven by other economic considerations.”

Fundamentally, business structures, such as the in vogue MLP, tend to be cyclical, much like the energy industry itself. And, without a major legislative change that alters the ability for entities to operate as MLPs, the structure remains a viable one, Spann said.

“It’s not that one is better or worse economically,” he explained. “I think people would say from a tax perspective, MLPs are more tax efficient. But there’s other factors outside of tax going on that are driving decisions in terms of whether they should be a C-corp or not.”

Still, fans of the MLP structure continue to get less-than-stellar news this week. Shortly after word came down that MLP pioneer Richard Kinder was absorbing his MLPs into Kinder Morgan Inc., the U.S. Treasury Department told Reuters it is looking into the ever-increasing use of the MLP structure.

In an email to Reuters regarding the Kinder Morgan transaction, a department spokesman said the agency is “looking into the effects of these transactions on future tax revenues,” adding, “Instances where the tax base may be eroded serve as a reminder of why we need Congress to enact business tax reform that broadens the tax base and lowers tax rates.”