Today, over a dozen U.S. Senators requested Department of Interior Secretary Sally Jewell immediately suspend implementation of new financial assurance requirements issued in the form of Notice to Lessees 2016-N01 (NTL), which was announced in July absent a formal rulemaking.

The letter –representing a geographically diverse range of Senate lawmakers – accurately pointed out the “broad consensus that the NTL, if fully implemented and enforced, poses a very serious threat to the sustainability and viability of independent producers in the offshore oil and gas industry.” Further, these lawmakers are demanding transparency from both BOEM and BSEE regarding the process by which BOEM devised these new requirements and the methodology underpinning BSEE’s wildly inflated decommissioning estimates being utilized by BOEM in implementing the new requirements.

The Gulf Energy Alliance commends these Senators, a crucial group that includes Energy and Natural Resources Chairman Lisa Murkowski, and past Chairman of Environment & Public Works Sen. Inhofe.  We especially want to thank Senators Wicker and Cassidy who fearlessly led this effort with their colleagues.

You can view the full letter by clicking here: senate-boem-letter-to-jewell