Getting the New Year off on the right foot, indeed. January 3, 2012 President Obama signed into law the Pipeline Safety, Regulatory Certainty, and Job Creation Act of 2011, which was approved by Congress the week of December 12th.
The American Gas Association, (AGA), is very pleased to see this bill become law, as it will provide the regulatory certainty necessary for the pipeline industry to make critical investments and create American jobs. The bill authorizes funding for programs of the Pipeline and Hazardous Materials Safety Administration (PHMSA) through fiscal year 2015. PHMSA oversees safety programs for the 2.3 million miles of natural gas, petroleum, and other hazardous liquid pipelines in the U.S.
America’s system of pipelines – the largest in the world – serves as the arteries of the nation’s energy infrastructure, enabling the safe, efficient and economical movement of extraordinary quantities of energy to industry and consumers, literally fueling the U.S. economy. Since 1986, the volume of energy transported through pipelines has increased by one-third, yet the number of reportable incidents has decreased by 28 percent. Government and industry have taken steps to improve pipeline safety, and the Pipeline Safety, Regulatory Certainty, and Job Creation Act helps ensure that we continue the nation’s commitment to making this safe form of transportation even safer.
The legislation went into effect immediately upon the president’s signature, and we can’t think of a better way to start 2012 than with this critical legislation being signed into law.
For more details and to view the bill, click here.