Oil Company Fines Get Annual Inflation Bump Like Everything Else
Published Date: 1/13/2025
Rule
Summary
Starting January 13, 2025, companies drilling for oil, gas, or sulfur on the Outer Continental Shelf will face slightly higher daily fines if they break the rules. This change bumps up penalties by about 2.6% to keep up with inflation from last year. It’s a smart move to keep penalties fair and effective, making sure everyone plays by the rules while protecting our oceans.
Analyzed Economic Effects
3 provisions identified: 0 benefits, 3 costs, 0 mixed.
OCSLA Daily Penalty Increased
If you hold an Outer Continental Shelf oil, gas, or sulfur lease, the maximum daily civil penalty under the Outer Continental Shelf Lands Act (OCSLA) rises from $54,352 to $55,764 per day per violation, effective January 13, 2025. The change reflects a 1.02598 inflation multiplier based on October 2024 vs. October 2023 CPI-U.
OPA Daily Penalty Increased
If you fail to meet Oil Pollution Act (OPA) financial responsibility requirements on the Outer Continental Shelf, the maximum daily civil penalty increases from $57,617 to $59,114 per day per violation, effective January 13, 2025. BOEM applied the 1.02598 inflation multiplier (October 2024 CPI-U / October 2023 CPI-U).
Adjusted Penalties Apply to Later Assessments
The adjusted penalty amounts take effect immediately on January 13, 2025 and apply to civil penalties assessed after that date, even if the underlying violation occurred before January 13, 2025. That means assessed fines after that date will use the new $55,764 (OCSLA) or $59,114 (OPA) daily limits.
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