The Interior Dept. today announced its intent to revise the Risk Management and Financial Assurance for OCS Lease and Grant Obligations rule issued in 2024 and promulgate a new rule it expects to be finalized this year that is consistent with the regulatory framework proposed by the Trump administration in 2020, stating that the existing rule has “limited the ability of many companies operating in the Gulf of America to invest in energy development projects.”
Interior Sec. Doug Burgum said that the revised rule “will enable our nation’s energy producers to redirect their capital toward future lasing, exploration, and production all while financially protecting the American taxpayer,” adding that [c]utting red tape will level the playing field and allow American companies to make investments that strengthen domestic energy security and benefit the Gulf of America states and their communities.”