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There's no inconsistency with BSEE deciding never to have to have attraction bonds with the phase of an get to decommission and BOEM choosing to require them with the phase of economic assurance demands. The BSEE determination is based largely on the idea that fiscal assurance is already set up by the point it troubles decommissioning orders and thus it doesn't deal with the dangers that BOEM does at the time of demanding money assurance. See 88 FR 23569, 23579 (April 18, 2023) (noting BSEE's reliance around the economical assurance rules for figuring out an attraction bond is not really needed for the BSEE plan).
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A summary of all remarks received concerning transfers and BOEM's corresponding responses about revisions to transfers can be found in section 6.two in the Response to Public Comments.
A few days in the past, the ISA Council viewed as these situations in its 29th Session (18-29 March 2024). To justify its steps ahead of the Council, Greenpeace cited the Arctic Dawn arbitral award, invoking the proper to protest at sea for a “lawful usage of the sea associated with the liberty of navigation” (p.
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The Office is finalizing, as proposed in thirty CFR 550.166(a), the option to provide $five hundred,000 location-extensive RUE financial assurance, that will satisfy the base money assurance need for any RUE more info holder that owns one or more RUEs in the similar OCS area, regardless of whether the RUE serves a Condition or Federal lease. Lessees which have previously posted space-large lease financial assurance will be able to modify that lease surety bond to also deal with any RUE(s) in the region owned by the same lessee.
Numerous commenters asserted that the worth of decommissioning legal responsibility ought to be extra back on the reserve benefit in order to avoid double counting.
Commenters commonly supported the proposal To guage a potential guarantor utilizing the similar credit rating rating or proxy credit history score criterion as proposed for lessees. Reaction:
Also, DOI also proposed to use the costs of decommissioning ensuing from BSEE's new methodology, which presents probabilistic expenses utilizing a databases of noted decommissioning fees to the OCS, to ascertain the amount of supplemental monetary assurance essential, as reviewed in portion III.B of this preamble.
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BOEM acknowledges the commenters' problem and regarded as the effects on smaller entities; on the other hand, BOEM will not be concentrating on the dimensions of firms. BOEM is assessing the economic energy of all firms to be able to make certain that the event of Strength while in the OCS is Risk-free and guards both of those the taxpayer as well as ecosystem. The Office has provided quite a few provisions In this particular rulemaking to decrease the load on tiny entities. BOEM acknowledged inside the proposed rule (88 FR 42146) that modest organizations might not have issuer credit rankings and, to handle this issue, proposed to permit entities without a rating to ask for which the BOEM Regional Director evaluate a proxy credit history score.
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Even so the relevance of this resolution is proscribed. It focuses exclusively on the security of navigation and of daily life at sea, such as assets as well as maritime natural environment.