Under a newly enacted pipeline safety bill, oil and gas pipeline companies could face additional safety requirements, and pipeline operators that violate federal rules will have to pay stiffer fines.
But the legislation’s impact on safety and industry won’t be clear for many months because its implementation deadlines for key regulations are not until 2013 or 2014. Further, the law gives the U.S. Dept. of Transportation substantial leeway to consider the economic impact of the new rules.