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BOEM agrees Using the commenters' assertion which the First base bond volume was resolute a few years back and acknowledges this benefit really should be reevaluated. For the reason that BOEM didn't propose a completely new worth inside the NPRM and, for that reason, can not revise it in the ultimate rule, BOEM designs To guage the precise values of The bottom supplemental money assurance for RUEs, ROWs, and leases within a long run rulemaking.
Many commenters expressed opposition to DOI's proposal, asserting that any co-lessee that does not preserve an expense quality credit history ranking (or equal proxy credit score score) needs to be required to present supplemental economic assurance. Commenters recommended which the Section need supplemental monetary assurance for their respective Doing the job fascination shares from all co-lessees that do not sustain an expense quality credit rating score for leases that are not exempt based on the reserve Assessment.
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BOEM disagrees With all the commenter's assertion that there “is not any will need for” place-broad money assurance needs for RUEs. RUE holders have decommissioning obligation and not only that of shelling out rentals. Place-broad protection is not getting essential but becoming presented as a substitute to independently bonding Each and every RUE. In reaction towards the recommendation that BOEM and BSEE ought to mandate finish ownership filings for ROW and RUEs, we note which is outside the house the scope of this rulemaking. As reviewed during the preamble for the proposed rule at 88 FR 42144, click here the proposed rule at thirty CFR 550.166(a)(1) would enable any lessee which includes presently posted area-vast lease money assurance to modify that lease surety bond to also protect any RUE(s) in the region owned by the identical lessee. A chance to use the region-broad lease fiscal assurance to deal with the RUE base financial assurance would be subject matter for the prerequisite that the region-broad lease fiscal assurance could well be within an quantity equal to or increased than the RUE base fiscal assurance need.
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