Insights Search

A series of recent actions undertaken by President Biden, near the end of his term, and President Trump, in the early days of his presidency, have called into question a key issue under the Outer Continental Shelf Lands Act (“OCSLA”) — whether the President can revoke a previous President’s withdrawal of areas of the United States Outer Continental Shelf (“OCS”) from oil and gas leasing.

The Biden administration has proposed changes regarding when oil, gas, and sulfur lessees and certain other parties operating in the offshore Outer Continental Shelf must post additional bonds or other “supplemental financial assurance” (“Supplemental FA”) related to their operations.

The panelists discussed recent developments in the U.S. offshore wind industry including recent progress and projects in the pipeline, challenges to development of U.S. offshore wind projects, and more.

There are growing calls for a carbon tax on shipping emissions. Jim Loftis, Ciara Ros, and Tatiana Freeman of Vinson & Elkins look at the recent proposal from Japan for a global carbon tax, assess it in the context of the existing approaches in other jurisdictions and industries and consider how those involved in the maritime industry need to prepare.

In February, the 60,000 gt car carrier, Felicity Ace, caught fire and burned for over a week before recovery teams could board. After running aground while being towed to safety, the ship began to sink and is now two miles beneath the surface of the Atlantic Ocean.