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During the June 29, 2023, NPRM, the Division proposed adjustments to your RUE money assurance needs to make clear the fiscal assurance requirement for RUEs serving Federal leases, which isn't explicitly addressed in the prevailing restrictions.
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Many commenters opposed the usage of the ratio, asserting that usual fluctuations inside the demand and price of oil and fuel, coupled with the upcoming international shift away from fossil fuels to renewable Electricity, allow it to be very likely that the value of proved oil reserves in all leases will drop eventually.
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The Division is finalizing, as proposed in 30 CFR 550.166(a), the option to deliver $five hundred,000 area-broad RUE fiscal assurance, that may satisfy The bottom economic assurance need for virtually any RUE holder that owns one or more RUEs inside the identical OCS spot, regardless of whether the RUE serves a Point out or Federal lease. Lessees that have Formerly posted location-extensive lease fiscal assurance can modify that lease surety bond to also protect any RUE(s) in the region owned by the same lessee.
That path is believed to are actually caused by the heavy six-ton anchor of Newnew Polar Bear, which was later on retrieved through the seabed with the Finnish Navy.
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