Abstract: The study describes existing federal policies that permit or promote ecosystem services analysis, management, investments, and markets. Our survey discusses: 1) current programs that stimulate or support the measurement of ecosystem services; 2) existing federal drivers of ecosystem services analysis; and 3) programs that stimulate investment in ecosystem services. Understanding existing capacity is important to federal and other leaders who see opportunities for environmental policy innovations—such as payments, markets, and management practices—based on ecological wealth and services.

Abstract: This paper reviews implementation of the risk management frameworks used by eight federal and foreign agencies—including the Minerals Management Service (MMS, now the Bureau of Ocean Energy Management, Regulation, and Enforcement, or BOEMRE)—and summarizes the features of a robust tolerable risk (TR) framework. A TR framework conceptually breaks risk into three categories—acceptable, unacceptable, and tolerable—separated by numerical boundaries. Most of the agencies surveyed in this review have adopted a TR or modified TR framework, but MMS (BOEMRE) generallyhas not (although the agency does use an Oil Spill Risk Model to assess spill probabilities and possible trajectories). The study argues that while numerical thresholds are not essential to risk management, theyprovide a transparent goal against which to benchmark practices, equipment, standards, and facilities, and would be a valuable tool for BOEMRE. We also recommend that BOEMRE develop better risk assessment and management guidance; identify and more systematically collect information for understanding and evaluating risks and safety performance; and strengthen performance-based risk management by adopting proven approaches, such as those used in Norway and the United Kingdom for offshore oil and gas development.

Abstract: This study compares and contrasts regulatory and related practices—in particular, regulatory decisionmaking, risk assessment and planning processes, inspection and compliance, and organization structure, budgets, and training—of the Minerals Management Service (MMS, now the Bureau of Ocean Energy Management, Regulation, and Enforcement, or BOEMRE) with those of the Federal Aviation Administration (FAA) and the Environmental Protection Agency (EPA). Comparing MMS practices withthose of other federal agencies that also manage low-probability but high-consequence environmental risks provides a basis for identifying opportunities for enhancing regulatory capacity and safety performance in managing deepwater energy exploration and production. Our research finds important differences in processes for setting standards; peer review contribution to the rulemaking process; establishment of tolerable risk thresholds; and training of key staff. The paper concludes with several recommendations for how various EPA and FAA practices might be modified and used at BOEMRE to strengthen its regulatory and risk management processes.