Yes, if business supports something it's automatically bad. That's totally mature and sensible.
As opposed to if business supports something it's automatically good? I suspect one thing this bill will do is preempt any relevant State legislation. Since the pipes in the pipelines themselves aren't going to cross interstate borders once they've been installed, I fail to see where pipeline safety needs to be a federal issue in the first place.
A general problem is that at a state level some industries have an even greater, disproportionate influence than on the federal level. West Virginia and their tragic history with the coal industry being an example.