This is more than just an interesting party trick - it has very real applications in the process world. Vacuum systems often have what is known as a "barometric leg" which works just they way kander described the drinking straw, as a way of releasing liquids while holding the vacuum.
Surface tension definitely does play a part, but it is applicable to the bottom of the straw or pipe, and only when the bottom end is *not* submerged. As long as the bottom of the pipe is *submerged* in the main body of liquid, the diameter of the pipe or straw does not matter. The straw/pipe would remain filled with liquid water until its length exceeded 10 m (33 ft) and then if it was longer you would get water vapor forming in the volume above 10 m.
Things change as soon as the bottom of the straw/pipe is pulled out of the water. Now surface tension becomes important. If the surface tension is sufficient to stop droplets of water falling from the bottom surface, and to stop bubbles of air rising, then the water will remain in the pipe. Obviously as the pipe diameter increases there will be a greater likelihood of droplets falling.
There was a time when I could have done the force balance on the bottom surface, but those days are long since past. You can read it up in your old physics books as well as I can, so I will leave it to you to calculate the maximum diameter.