There is absolutely no inconsistency with BSEE deciding never to need attractiveness bonds in the phase of an get to decommission and BOEM deciding to call for them at the phase of economic assurance requires. The BSEE final decision is based in large part on the assumption that money assurance is previously in position by the point it issues decommissioning orders and therefore it doesn't confront the threats that BOEM does at time of demanding financial assurance. See 88 FR 23569, 23579 (April 18, 2023) (noting BSEE's reliance on the economic assurance restrictions for identifying an attractiveness bond will not be essential for the BSEE software).
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1 commenter expressed support for the new “Money assurance” phrase and pointed out that it supported “the breadth and optionality during the proposed” definition. Response:
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Various commenters expressed help for DOI's proposal not to demand supplemental economical assurance on leases the place at least just one co-lessee fulfills the credit ranking threshold. Reaction:
Various commenters generally supported the streamlining from the evaluation standards, notably using credit history scores as a more appropriate criterion than economic potential, projected money toughness, and company stability. Response:
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BOEM will be the company inside of DOI responsible for taking care of improvement with the nation's offshore resources within an environmentally and economically responsible way. BOEM have to balance OCS progress with safety of both of those the taxpayer plus the atmosphere and concludes this rule achieves an acceptable harmony of objectives. BOEM won't think demanding all entities to supply supplemental economical assurance might be justified by the likely risk on the taxpayer, since economically robust entities are really unlikely to file for individual bankruptcy and so are really very likely to be able to protect their decommissioning obligations. Additionally, necessitating those entities with minor chance of default to offer supplemental monetary assurance would cut back funds readily available for other cash expenditures.
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BOEM acknowledges the commenters' assist and agrees Using the commenters' assertion which the intent on the proposed rule was to allow credit history rankings from Fitch Ratings. The Department has involved Fitch Ratings and its subsidiaries in the ultimate rule in 30 CFR 556.105. Remark: