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BOEM proposed during the preamble for the proposed rule at 88 FR 42156 the provisions with the rule be severable. No general public remarks have been been given on severability. Must any court hold illegal and/or set aside parts of this rule, the remaining portions are severable and as a consequence really should not be remanded on the Division.
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Many commenters opposed using the ratio, asserting that typical fluctuations inside the need and cost of oil and gas, coupled with the upcoming worldwide shift faraway from fossil fuels to renewable energy, allow it to be very likely that the value of proved oil reserves in all leases will drop over time.
No remarks ended up obtained especially over the proposed Modification to rename the lease-unique abandonment accounts in 30 CFR 556.904 as “Decommissioning Accounts” or even the proposed amendment to eliminate the prerequisite to pledge Treasury securities to fund the account before the resources equivalent the utmost quantity insurable via the FDIC/FSLIC.
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Various commenters expressed opposition to DOI's proposal, asserting that any co-lessee that doesn't manage an financial investment quality credit score ranking (or equal proxy credit ranking) really should be necessary to give check here supplemental money assurance. Commenters advised which the Office involve supplemental economic assurance for his or her respective Operating curiosity shares from all co-lessees that don't maintain an financial commitment quality credit rating for leases that are not exempt dependant on the reserve Examination.
Several commenters expressed problems which the preamble on the proposed rule alluded to checking of credit history rankings, nevertheless the regulatory textual content didn't point out the checking.
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When deciding the required level of supplemental monetary assurance, BSEE Formerly delivered to BOEM an individual, algorithm-based mostly deterministic estimate for decommissioning expenses of OCS amenities.
A commenter proposed the Department mustn't call for supplemental bonding for RUEs which have been servicing and linked to higher price leases mainly because some organizations possess interest from the reserves linked to a RUE granted to keep up a platform operational on an expired lease for servicing output on An additional lease. Reaction:
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