On Thursday, January 12, 2023, the Department of the Interior announced that the Bureau of Ocean Energy Management (BOEM) is planning to publish a proposed rule to update clean energy regulations for development on the U.S. Outer Continental Shelf (OCS). These proposed reforms are estimated to save developers approximately $1 billion over a 20 year period as well as hopefully clarify ambiguous provisions and attempt to streamline overly complex and burdensome processes.
The Department’s program was implemented thirteen years ago and since that time BOEM has conducted eleven auctions and manages twenty-seven currently active commercial leases. Because of this, the Department has identified ways to modernize these regulations and facilitate new development objectives.
To learn more about this proposed ruling and its eight major components, please visit the Department of the Interior’s website at the link below.
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