The Pipeline Safety, Regulatory Certainty, and Job Creation Act of 2011 was designed to examine and improve the state of pipeline safety regulation. The Act: 

• Reauthorizes PHMSA's federal pipeline safety programs through fiscal year 2015
• Provides the regulatory certainty necessary for pipeline owners and operators to plan infrastructure investments and create jobs
• Improves pipeline transportation "the safest and most cost-effective way to transport natural gas and hazardous liquid products" by strengthening enforcement of current laws and improving existing laws where necessary
• Ensures a balanced regulatory approach to improving safety that applies cost benefit principles
• Addresses National Transportation Safety Board recommendations resulting from recent pipeline incidents
• Protects and preserves Congressional authority by ensuring certain key rulemakings are not finalized until Congress has an opportunity to act