"The STB(surface transportation board) has broad economic regulatory oversight of railroads, including rates, service, the construction, acquisition and abandonment of rail lines, carrier mergers and interchange of traffic among carriers. The STB also has certain oversight of pipeline carriers, intercity bus carriers, moving van companies, trucking companies involved in collective activities and water carriers engaged in non-contiguous domestic trade."
what does it mean by regulatory oversight? Do they overlook some of the stuff that their actually responsible for?