seabet Fundamentals Explained
seabet Fundamentals Explained
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) as reviewed in the subsequent subsections. A summary of all reviews acquired concerning revisions to definitions and BOEM's corresponding responses can be found in section ten with the Reaction to Community Responses.
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alter in credit rating), or if a party obtains an OCS lease or grant fascination throughout the phased compliance time frame soon after implementation of the ultimate rule, they might be allowed to use the phased compliance technique. BOEM has retained the language to determine a 3-yr compliance window broad plenty of to encompass these instances. BOEM intends for just about any social gathering who, throughout the three-year compliance window, incurs new decommissioning liability or activities improved instances resulting in a economic assurance need from BOEM, being allowed, at the Regional Director's discretion, to use the 3-12 months phased in method of providing supplemental monetary assurance.
One commenter delivered an current Investigation of stress, which include a comparison on the 3 proposed decommissioning estimate values, which was referenced by numerous commenters in their comment submissions. The commenter's analysis asserted that the effects over the legal responsibility amounts “are largely depending on Every single company's `portfolio' of decommissioning liabilities” and stated that in any portfolio of unsure effects, some Value estimates will exceed their predicted worth, while some Price tag estimates are going to be a lot less. Accordingly, the commenter asserted, percentile values will not be additive, as true variances from estimates would offset each other so which the P70 with the blended results on the portfolio would method the sum of the necessarily mean.
Commenters supported the proposal to require a RUE grant holder to provide economical assurance in a particular amount, irrespective of whether the RUE serves a State lease or Federal OCS lease, but asserted that BOEM should really update The bottom money assurance worth because it was firm in 1993, was dependant on expenditures in comparatively shallow waters, and substantial inflation has transpired Because the last revision. Response:
Omitting the existence of predecessor lessees from the Evaluation of regardless of whether to waive the prerequisite of supplemental money assurance to get a present-day lessee—the strategy staying finalized in this article—addresses quite a few related concerns. It makes sure that The existing lessees have the financial capability to meet their decommissioning obligations.
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