Mar 5, 2026 IPAA Statement on Interior’s Rollback of Offshore Financial Assurance Rule
WASHINGTON – The Independent Petroleum Association of America (IPAA) released the following statement on the announcement from the United States Department of Interior on the intent to rollback the Biden Administration’s offshore rule requiring companies to set aside billions of dollars in supplemental financial assurance.
IPAA EVP and Chief Policy Officer Dan Naatz: “We applaud the Trump Administration for taking steps to roll back the flawed financial assurance rule promulgated during the Biden Administration. Had it been fully implemented, the Biden rule would have disproportionately affected independent offshore oil and gas producers and had them bear most of the associated costs. The Biden financial assurance rule was misguided from the start, and we applaud the Trump Administration for acting on this important issue and listening to the concerns of independent producers. We look forward to further reviewing the Notice of Proposed Rulemaking in more detail and plan to provide robust comments to the Bureau of Ocean Energy Management in the coming weeks.”
