seabet Things To Know Before You Buy
seabet Things To Know Before You Buy
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P-values) of decommissioning expenditures for each OCS facility on any specified lease. These values signify the chance of covering the total expense of decommissioning a facility like a proportion; for instance, P70 signifies a 70 percent probability of covering the total expense of decommissioning a facility. The Division is finalizing, as proposed, the use of the P70 decommissioning estimate worth to ascertain the quantity of supplemental monetary assurance demanded from a recent lessee that doesn't fulfill the monetary waiver criteria. If probabilistic estimates are certainly not available, then BOEM will make use of the obtainable deterministic values. BOEM also notes that using the BSEE P70 value only reflects the quantity of supplemental economical assurance Which may be needed to meet decommissioning obligations and does not mirror the overall price of corrective motion that may be needed to carry a lease or grant into compliance.
BOEM proposed while in the preamble to your proposed rule at 88 FR 42156 which the provisions in the rule be severable. No general public opinions were gained on severability. Must any courtroom hold illegal and/or set aside portions of the rule, the remaining portions are severable and therefore shouldn't be remanded into the Department.
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The purpose of this last regulatory motion is to handle fears regarding BOEM's fiscal assurance method. This rule finalizes amendments to the existing provisions to higher guard the taxpayer from bearing the price of facility decommissioning along with other economic hazards affiliated with OCS advancement, for instance environmental remediation.
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In general, field commenters supported the phased solution and several other commenters suggested that it be extended to five yrs to “mitigate opportunity sizeable hazard to corporations and to provide sufficient time for your bonding market to adjust.” Response:
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The present bonding regulations at 30 CFR 556.901(d) present five criteria the Regional Director takes advantage of to determine irrespective of whether a lessee's likely inability to perform existing and future decommissioning obligations warrants a demand from customers for supplemental economic assurance; even so, The existing bonding regulations will not specifically get more info describe how the factors are weighted.
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