Thank you Wahoo, I am not sure what color the insulation is under the foil covering, but I think its also a black color or grey. I think the insulation in the attic is cellulose blown stuff, its gray and fluffy.
I guess I am just freaked out over asbestos you know :-/ I am almost afraid to disturb anything up there.
Is that blown rock wool, or cellulose insulation? As energy mentioned, it does not look very well insulated? I'd recommend blowing enough cellulose to completely cover this pipe. The outside wrap will only be about r-6 or so, and will really work much better and lose lots less heat if covered with about 6" more of cellulose insulation. I don't care for rock wool, or blown fiberglass.