J. Exon: “the provision in this legislation with respect to cost-benefit analysis is unique to the Office of Pipeline Safety. It…”

“the provision in this legislation with respect to cost-benefit analysis is unique to the Office of Pipeline Safety. It is not my intent, nor was it ever suggested by any member of the committee that the standard we use in this bill, be applied to the regulatory process of any other Federal agency. Cost benefit analysis for pipeline safety is straight forward and largely quantifiable. Assessing the effects of pipeline safety ruptures is not as uncertain as health-related analyses, such as lead exposure levels or other long-term exposure to toxics. Pipelines are fixed facilities in known locations that carry finite quantities of specific products. The consequences of different types of ruptures or problems is therefore very quantifiable. The costs of various proposed requirements is usually also very quantifiable as most proposals seek to use existing procedures, processes, or tools with which pipeline operators have actual field experience. This makes cost and benefits more readily identifiable regarding pipeline safety regulations.”