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2014-02-22
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Consumer Price Index Adjustments of the Oil Pollution Act of 1990 Limit of Liability for Offshore Facilities
Proposed Rules
D09002ee1bdc77bf1
D09002ee1bdc77ca6
United States
Department of the Interior
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org
United States Government Agency or Subagency
United States
Bureau of Ocean Energy Management
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org
United States Government Agency or Subagency
The Bureau of Ocean Energy Management (BOEM) is proposing to add a new subpart to its regulations on Oil Spill Financial Responsibility (OSFR) for Offshore Facilities designed to increase the limit of liability for damages applicable to offshore facilities under the Oil Pollution Act of 1990 (OPA), to reflect significant increases in the Consumer Price Index (CPI) since 1990, and to establish a methodology BOEM would use to periodically adjust for inflation the OPA offshore facility limit of liability. BOEM proposes to increase the limit of liability for damages from $75 million to $133.65 million. OPA requires inflation adjustments to the offshore facility limit of liability not less than every three years to preserve the deterrent effect and ``polluter pays'' principle embodied in the OPA Title I liability and compensation provisions. In addition, the Department of the Interior has determined that this change would further protect the environment by ensuring that any party that causes an oil spill would pay an increased amount of any potential damages. BOEM is publishing this update to its regulations and is soliciting public comments on the method of updates, the clarity of the rule and any other pertinent matters. The Department is limiting the rulemaking comment period to 30 days since it does not anticipate receiving adverse comments on this rulemaking.
79 FR 10056
https://www.govinfo.gov/app/details/FR-2014-02-24/2014-03738
2014-03738
fr24fe14-24
RIN 1010-AD87
4310-MR-P
Docket ID: BOEM-2012-0076
MMAA104000
https://www.govinfo.gov/app/details/FR-2014-02-24/2014-03738
https://www.govinfo.gov/content/pkg/FR-2014-02-24/html/2014-03738.htm
https://www.govinfo.gov/content/pkg/FR-2014-02-24/pdf/2014-03738.pdf
Administrative Practice and Procedure
Continental Shelf
Economic Analysis
Environmental Impact Statements
Environmental Protection
Financial Responsibility
Government Contracts
Intergovernmental Relations
Investigations
Ocs
Oil and Gas Exploration
Oil Pollution
Liability
Limit of Liability
Penalties
Pipelines
Public Lands-Mineral Resources
Public Lands-Rights-of-Way
Reporting and Recordkeeping Requirements
Surety Bonds
Treasury Securities
8 p.
10056
10063
79 FR 10056
Code of Federal Regulations
Title 30 Part 553
30 CFR Part 553
Regulation Identification Number 1010-AD87
RIN 1010-AD87
Consumer Price Index Adjustments of the Oil Pollution Act of 1990 Limit of Liability for Offshore Facilities; Federal Register Vol. 79, Issue
PRORULE
2014-03738
DEPARTMENT OF THE INTERIOR
Bureau of Ocean Energy Management
2014-03-26
Docket ID: BOEM-2012-0076
MMAA104000
4310-MR-P
2014-03738
Proposed rule.
The Bureau of Ocean Energy Management (BOEM) is proposing to add a new subpart to its regulations on Oil Spill Financial Responsibility (OSFR) for Offshore Facilities designed to increase the limit of liability for damages applicable to offshore facilities under the Oil Pollution Act of 1990 (OPA), to reflect significant increases in the Consumer Price Index (CPI) since 1990, and to establish a methodology BOEM would use to periodically adjust for inflation the OPA offshore facility limit of liability. BOEM proposes to increase the limit of liability for damages from $75 million to $133.65 million. OPA requires inflation adjustments to the offshore facility limit of liability not less than every three years to preserve the deterrent effect and ``polluter pays'' principle embodied in the OPA Title I liability and compensation provisions. In addition, the Department of the Interior has determined that this change would further protect the environment by ensuring that any party that causes an oil spill would pay an increased amount of any potential damages. BOEM is publishing this update to its regulations and is soliciting public comments on the method of updates, the clarity of the rule and any other pertinent matters. The Department is limiting the rulemaking comment period to 30 days since it does not anticipate receiving adverse comments on this rulemaking.
Submit comments by March 26, 2014.
Questions regarding the limit of liability established by this proposed rule, or related to the limits of liability adjustment process, should be directed to Dr. Marshall Rose, Chief, Economics Division, Office of Strategic Resources, Bureau of Ocean Energy Management at 381 Elden Street, MS-4050 Herndon, Virginia 20170-4817 at (703) 787-1538 or email at marshall.rose@boem.gov.
Administrative Practice and Procedure
Continental Shelf
Economic Analysis
Environmental Impact Statements
Environmental Protection
Financial Responsibility
Government Contracts
Intergovernmental Relations
Investigations
Ocs
Oil and Gas Exploration
Oil Pollution
Liability
Limit of Liability
Penalties
Pipelines
Public Lands-Mineral Resources
Public Lands-Rights-of-Way
Reporting and Recordkeeping Requirements
Surety Bonds
Treasury Securities
Consumer Price Index Adjustments of the Oil Pollution Act of 1990 Limit of Liability for Offshore Facilities
,
marshall.rose@boem.gov
peter.meffert@boem.gov
ftp.bls.gov/pub/special.requests/cpi/cpiai.txt
http://www.bls.gov/cpi/cpi1998d.pdf
http://www.regulations.gov
www.regulations.gov
Federal Register
Vol. 79, no. 36
Office of the Federal Register, National Archives and Records Administration
2014-02-24
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358 p.
Table of Contents:
AE 2.7:
GS 4.107:
AE 2.106:
KF70.A2
https://www.govinfo.gov/app/details/FR-2014-02-24
P0b002ee18760d808
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0042-1219
0364-1406
769-004-00000-9
000582072
f:fr24fe14
https://www.govinfo.gov/app/details/FR-2014-02-24
https://www.govinfo.gov/content/pkg/FR-2014-02-24/pdf/FR-2014-02-24.pdf
https://www.govinfo.gov/content/pkg/FR-2014-02-24/xml/FR-2014-02-24.xml
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2014-02-22
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