delete PART 174—CARRIAGE BY RAIL
Federal regulation governing rail transport of hazardous materials, including inspection, security, emergency response coordination, loading requirements, and transloading operations. Preempts state/local requirements and imposes extensive technical specifications, notification protocols, and recordkeeping on railroads.
The regulation imposes massive compliance costs while stifling innovation, creating barriers to entry for small railroads, and centralizing safety decisions. Its hyper-detailed technical specifications represent the 'fatal conceit' that bureaucrats can design optimal safety mechanisms better than dispersed market actors. The regulation creates moral hazard by focusing on checklist compliance rather than outcomes, promotes regulatory capture, and preempts state experimentation. Simpler federal standards combined with strong liability and market-based incentives would achieve safety goals at a fraction of the burden.