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BOEM acknowledges the commenter's guidance, and the Section is finalizing The brand new term as proposed. Comment:

From the June 29, 2023, NPRM, the Department proposed improvements to your RUE fiscal assurance needs to clarify the money assurance requirement for RUEs serving Federal leases, which isn't explicitly dealt with in the prevailing laws.

A summary of all feedback received regarding transfers and BOEM's corresponding responses concerning revisions to transfers are available in section 6.2 on the Response to Public Feedback.

Other commenters asserted that the proposed rule didn't involve sufficient facts and transparency regarding how the probabilistic estimates are derived. Response:

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A commenter asserted that there was no need for a new necessity for space-vast financial assurance for RUEs, as it could entirely address RUE rentals. They prompt that this factor should currently be sufficiently included less than the existing location-huge economic assurance for leases supplied by lessees.

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BOEM has approximated the annualized boost in compliance expenses to lessees and RUE and ROW grant holders and allotted those to small and large entities dependent on their decommissioning liabilities. BOEM's Evaluation estimates modest firms could incur $421 million (seven percent discounting) in annualized compliance fees from its alterations. The Bureau recognizes that there will be incremental Value burdens to most affected tiny entities and it has integrated a 3-yr, phased compliance method of lessen stress related to the changeover to the requirements of the rule.

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The proposed rule did not involve that an appeal bond “transform” to some economical assurance obligation and BOEM is just not finalizing the rule to need conversion. If an appellant missing its attractiveness, the appeal bond may very well be “converted” to monetary assurance if That could be a practical technique, or even the lessee who shed the attractiveness would have to give Various other suitable kind of economic assurance. Neither the proposed nor remaining rule specify a timeline for this provision of economic assurance.

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