Regulation Identifier Number 1010-AD04
Federal Oil Valuation (formerly 1010-AC09)
30 CFR Parts 206 and 210
Abstract: This rule amends the existing rule governing valuation for royalty purposes of crude oil produced from Federal leases. These changes refine several technical aspects of this rule relating to which published market prices are most appropriate to value crude oil not sold at arm's length and what transportation deductions is allowed.
- Federal Oil Valuation, Final rule--technical amendment — (69 FR 29432--May 24, 2004) The July 6, 2004, effective date of the final rule originally published May 5, 2004, entitled "Federal Oil Valuation," is changed to August 1, 2004, to correct an inadvertent clerical error. The correct effective date of the rule published on May 5, 2004, at 69 FR 24959, is August 1, 2004.
- Federal Oil Valuation (Final Rule) — (69 FR 24959--May 5, 2004) MMS is amending the existing regulations governing the valuation of crude oil produced from Federal leases for royalty purposes, and related provisions governing the reporting thereof.
- Federal Oil Valuation Proposed Rule — (68 FR 55556-September 26, 2003) Reopening of comment period
Public Comments (68 FR 55556)
- On behalf of:
American Petroleum Institute, Domestic Petroleum Council, Independent Petroleum Association of America and the US Oil and Gas Association - On behalf of:
California State Controller, Steve Westly - ChevronTexaco
- Congress of the United States - U.S. Senators, Barbara Boxer and Dianne Feinstein; U.S. House of Representative, Louis Capp and George Miller
- ConocoPhillips
- ExxonMobil Production
- POGO - Project On Government Oversight
- Walter Oil and Gas Corporation
- State of Wyoming, Office of the Governor
- On behalf of:
- Federal Oil Valuation Proposed Rule — (68 FR 50087--August 20, 2003)
Public Comments (68 FR 50087)
- California State
Controller's Office
(E-mail dated September 4, 2003) - Fulbright & Jaworski LLP
- Wyoming State Office, Office of the Governor
- State of Alaska
Department of Natural Resources
Division of Oil and Gas - Argus Media Inc.
(Submitted on behalf of Daniel C. Massey, President) - California State
Controller's Office
(E-mail dated October 23, 2003) - Items sent in response to Lee
Helfrich's Office
(Representing California State Controller's Office) - Listing of requested items and email
- Request #1 and 2
- Request #3 and Appendix A-C
- Request #4
- Request #5 - Part One
- Request #6 thru 8
- Request 9 and 10
- Submitted on behalf of the California State Controller, Steve
Westly
Lobel, Novins & Lamont Letter
with Attachments
Attachment One
Attachment Two
Attachment Three
Attachment Four - Congress of the United
States
Correspondence dated August 28, 2003
(U.S. Senator, Barbara Boxer;
U.S. Representatives, Carolyn Maloney and Lois Capps)
Response to Senator Boxer from MMS Director, R. M. Burton
Response to Honorable Maloney from MMS Director, R. M. Burton
Response to Honorable Capps from MMS Director, R. M. Burton - Congress of the United
States
Correspondence dated September 9, 2003
Members of Congress: Carolyn B. Maloney and Nick Rahall
Response to Honorable Rahall from MMS Director, R. M. Burton - Congressional Proposed
Oil Valuation Rule Briefings
(September 2, 2003, at the request of Congresswoman Maloney (D-NY)) - Louisiana, State of
Department of Natural Resources, Office of the Secretary - Office of Congressional Affairs
September 2, 2003, meeting
with Ben Chavet, Chief of Staff for Rep Carolyn Maloney - Platts
(Submitted by John Kingston, Global Director of Oil Platts) - Jean Public (B. Sachau)
- Senate Committee on Energy
& Natural Resources
(September 8, 2003, meeting with Patty Beneke,
Senate Committee on Energy and Natural Resources) - Texas General Land Office, Deputy Commissioner of Energy Resources
- U.S. House of Representatives, Committee on Resources
Correspondence dated September 2, 2003
Nick J. Rahall, II, Ranking Democratic Member
Response to Honorable Rahall from MMS Director, R. M. Burton - United States Senate
Craig Thomas, United States Senator - Wyoming State Office,
Office of the Governor
(MMS response to Wyoming State Office requests)
- California State
Controller's Office
- NYMEX Prices
Related Federal Register Notices:
2000 and Newer
- Notice of public workshops To Discuss Specific Issues Regarding the Existing Rule (68 FR 7086--February 12, 2003)
- March 6, 2003 (Washington, DC)
- March 6, 2003 (Albuquerque)
- March 5, 2003 (Houston)
- March 4, 2003 (Denver)
Public Comments received (68 FR 7086)
- Notice of Market Centers (65 FR 38299--June 20, 2000)
- Notice of Approved Publications (65 FR 37043--June 13, 2000)
- Notice of Training Sessions re: revised Federal Oil Valuation Regulations (65 FR 24387--April 26, 2000)
- Final Rule (65 FR 14022--March 15, 2000)
- Notice; correction (65 FR 3167--January 20, 2000
- Notice of cancellation and rescheduling of public workshops on Further Supplementary Proposed Rule (65 FR 1580--January 11, 2000)
- January 18, 2000 Workshop Minutes - Denver, Colorado
- January 19, 2000 Workshop Minutes - Houston, Texas
- January 20, 2000 Workshop Minutes - Washington, DC
1999
- Further Supplementary Proposed Rule (64 FR 73820--December 30, 1999)
Public Comments Received(64 FR 73820)
- Submitted on behalf of:
Alaska Wilderness League,
American Federation of Government Employees
American Federation of State, County & Municipal Employees (AFSCME),
American Lands Alliance, American Oceans Campaign,
American Rivers, Better Government Association,
Common Cause, Consumer Federation of America,
Council of Chief State School Officers, Friends of the Earth,
Government Accountability Project, Greenpeace, Mineral Policy Center,
Native American Rights Fund, Natural Resources Defense Council,
Navajo Nation, Ozone Action, Project On Government Oversight,
Public Citizen Critical Mass Energy Project,
Public Employees for Environmental Responsibility
Service Employees International Union,
Taxpayers for Common Sense, U.S. PIRG
- Volume 1 &
Volume II, and Appendices A (525KB)
- Appendices B, C, D, and E
Comments of the American Petroleum Institute,
Independent Petroleum Association of America,
Domestic Petroleum Council,
U.S. Oil & Gas Association,
Independent Petroleum Association of Mountain States,
Western States Petroleum Association, and
California Independent Producers Association - Anadarko Petroleum Corporation
- BP Amoco Corporation
- Barents Group, LLC (Part 1)
Appendix (Part 2)
On behalf of: Independent Petroleum Association of America, Independent Petroleum Association of Mountain States,
Chevron U.S.A. Inc., Conoco Inc., Marathon Oil Company, Oxy USA Inc.
- Bloch, Briggs and Assoc., Inc.
- Congress of the United States, House of Representatives
- Linda Brown
- California State Controller's Office
- Chevron Pipe Line Company
- Chevron U.S.A. Production Company
- City of Long Beach California
- CNG Producing Company
- Coastal Corporation
- Conoco Inc.
- Council of Petroleum Accountants Societies
- Eighty-Eight Oil LLC
- EQUILON Pipeline Company, Inc.
- EQUIVA Trading Company
- Exxon Mobil Corporation
Attachment A
Attachment B
Attachment C - Frontiers of Freedom
Part One
Part Two
Part Three
Part Four - GulfMark Energy, Inc.
- Independent Petroleum Association of America
- List of Attachments Filed by IPAA - Comments of January 31, 2000
- Loomis, F. David, Mineral Audit Section
- Marathon Oil Company - Law Organization
- New Mexico State land Office, Commissioner of Public Lands
- Project On Government Oversight
- Shell Exploration & Production Company
- State of New Mexico Taxation & Revenue Department
- Texaco Inc.
On behalf of itself and its affiliates including
Texaco Exploration & Production Inc. - Texas A&M University
- Union Oil Company of California
- United States Senate
- United States Senate, Signed by Frank Murkowski
- United States Senate
Committee on Energy & Natural Resources - Vastar Resources, Inc.
Part One
Part Two (Verified Statement of Professor J. Peter Williamson)
Part Three (Attachment A)
Part Four (Attachment B)
Part Five (Exhibit ABJ-1) - Vision Resources, Inc.
- Wyoming Office of Federal Land Policy
John Breaux
Jeff Bingaman
Linda L. Landrieu
- Submitted on behalf of:
- Notice of public workshops on Further Supplementary Proposed Rule (64 FR 73458--December 30, 1999)
- Supplementary Proposed Rule; Notice of extension of public comment period (64 FR 17990--April 13, 1999)
- Notice of extended workshops on Proposed Rule (64 FR 15949--April 2, 1999)
- Notice of reopening public comment period and notice of workshops (64 FR 12267--March 12, 1999)
Public Comments received(64 FR 12267)
- American Petroleum Institute
- Domestic Petroleum Council
- Independent Petroleum Association of America
- United States Oil & Gas Association
- Coastal Oil & Gas Corporation
- California State Controller's Office
(Lobel, Novins & Lamont submitted on behalf of...) - Chevron U.S.A. Producing Company
- CNG Producing Company
- Conoco Inc.
- Exxon Company, U.S.A.
- Greenpeace
- Independent Petroleum Association of Mountain States
- Mobil Exploration & Producing U.S.
Inc.
Mobil Business Resources Corporation submitted on behalf of.... - New Mexico, State of.... Commissioner of Public Lands
- New Mexico, State of....
- Projects On Government Oversight
- Shell Exploration & Production Company
- Texaco--Government Relations Department
- United States Senate--Committee on Energy and Natural Resources
1998
- September 1, 1998 MMS Response to Oil Valuation Issues in House Report 105-609
- August 31, 1998 Letter from Bob Armstrong, Assistant Secretary, Land and Minerals Management - Outline of the direction the Department of the Interior plans to take on the major issues in the final Federal oil valuation rule
- July 30, 1998 Amended Notes--Meeting sponsored by Rep's Miller and Maloney--
Proposed Rule - Capitol Building - July 30, 1998
Congress of the United States, Washington, DC
Comments from George Miller, Senior Democrat, Resources Committee
and Barbara Boxer, United States Senator - July 28, 1998 Minutes--Meeting Between Senate Staff and the Department of the Interior (DOI) - Proposed Rule - Senate Hart Building
- Further Supplementary Proposed Rule; Notice of extension of public comment period (63 FR 40073--July 27, 1998)
Public Comments (63 FR 40073)
- Congress of the United States, Washington, DC
Comments From: George Miller, Senior Democrat, Resources Committee
Barbara Boxer, United States Senator - American Petroleum Institute
- Chevron U.S.A. Production Company
A Division of Chevron U.S.A. Inc. - CNG Producing Company
- City of Long Beach
Office of the City Attorney - Conoco Inc.
- California State Controller's Office
- Enron Oil & Gas Company
Tax & Government Affairs - Exxon Company, U.S.A.
- Gardere & Wynne, L.L.P. on
behalf of ...
(Part 1)
Rocky Mountain Oil & Gas Association
Amoco Corporation
Anadarko Petroleum Corporation
Chevron U.S.A. Production
Conoco, Inc.
OXY USA, Inc.
Texaco, Inc.
Union Pacific Resources Company - Gardere & Wynne, L.L.P. On behalf of ....
(Part 2)
Appendix A - Hunt Oil Company
- Independent Petroleum Association of America and the Domestic Petroleum Council
- Independent Petroleum Association of Mountain States
- Marathon Oil Company
- Mobil Oil Corporation
- Montana Department of Revenue
- Oryx Energy Company
- Preston C. Burchard
- Project On Government Oversight (POGO)
- Santa Fe Energy Resources, Inc.
- Shell Oil Company - Government Affairs Office
- Shell Oil Company & its affiliates,
Shell Offshore Inc., Shell Deepwater Development Inc.,
Shell Deepwater Production Inc., & Shell Wester E&P Inc. - Texaco Inc. and its affiliates
including Texaco Exploration & Production Inc. (TEPI) - Wyoming Department of Revenue
- Wyoming (State of)
Office of the Governor
- Congress of the United States, Washington, DC
- July 22, 1998 Meeting Notes on proposed rule Senate Dirksen Building
- Further Supplementary Proposed Rule (63 FR 38355--July 16, 1998)
- July 9, 1998 Meeting Notes on proposed rule - Senate Russell Building
- Notice of reopening the public comment period (63 FR 36868--July 8, 1998)
- Supplementary Proposed Rule; Notice of extension of public comment period (63 FR 14057--March 24, 1998)
Public Comments (63 FR 14057)
- American Petroleum Institute and Western States Petroleum Association - Memo and Attachment A
- American Petroleum Institute and Western States Petroleum Association - Attachment B thru D
- American Petroleum Institute and Western States Petroleum Association - Attachment E thru F
- Amoco Production Company "Amoco"
- Anadarko Petroleum Corporation
- BP Exploration
- Calcasieu Refining Co., The Gary-Williams Energy Corporation, Giant Refining Company, Placid Refining Company, and Wyoming Refining Company (collectively "Small Refiner Companies")
- California State Controller's Office
Represented by Lobel, Novins & Lamont - Chevron Pipe Line Company
Represented by Bosek Law Firm - Chevron U.S.A. Production Company
- City of Long Beach, Trustee for the State of California
- CNG Producing Company
- Coastal Oil & Gas Corporation, ANR Production Company, CIG Exploration, Inc., and Coastal States Trading, Inc. (collectively "Coastal")
- Conoco, Inc.
- Council of Petroleum Accountant's Societies (COPAS)
- Economic Insight, Inc.
- Eighty-Eight Oil Company
- EQUILON Enterprises LLC
- EXXON Company U.S.A.
- FINA Oil and Chemical Company
- Hunt Oil Company
- Independent Petroleum Association of American (IPAA) Letter dated April 6, 1998
- Independent Petroleum Association of America (IPAA) and the Domestic Petroleum Council (DPC) -- Memo, Attachment 1 thru 2
- Independent Petroleum Association of America (IPAA) and the Domestic Petroleum Council (DPC) -- Attachment 3 thru 8
- Independent Petroleum Association of America (IPAA) and the Domestic Petroleum Council (DPC) -- Federal Lease Forms--A thru E
- Independent Petroleum Association of America (IPAA) and the Domestic Petroleum Council (DPC) -- Federal Lease Forms--F thru M
- Independent Petroleum Association of America (IPAA) and the Domestic Petroleum Council (DPC) -- Federal Lease Forms--N thru X (
- Independent Petroleum Association of Mountain States (IPAMS)
- Marathon Oil Company
- Mobil Oil Corporation Represented by Hogan & Hartson L.L.P.
- Oryx Energy Company
- Pennzoil Company
Represented by Jackson & Kelly - Rocky Mountain Oil and Gas Association (RMOGA) (Memo and Analysis)
- Rocky Mountain Oil and Gas Association (RMOGA) (Appendix 1)
- Rocky Mountain Oil and Gas Association (RMOGA) (Appendix 2)
- Santa Fe Energy Resources, Inc.
- Scurlock Permian Corporation (SPC)
- Shell Offshore, Inc.
- State of New Mexico Land Office--Oil, Gas and Minerals Division--Commissioner of Public Lands Gas and Minerals Division
- State of New Mexico--Taxation and Revenue Department
- State of Wyoming--Office of Federal Land Policy
- Texaco, Inc. and its affiliates, including Texaco Exploration and Production Inc. (TEPI)
- Union Pacific Resources Company
- Vastar Resources, Inc.
- Notice of Public Meetings on Supplementary Proposed Rule (63 FR 6887--February 11, 1998)
- February 18, 1998 Public Hearing - Houston, TX
- February 25, 1998 Public Meeting - Washington, DC
- March 2, 1998 Public Meeting - Lakewood, CO
- March 11, 1998 Public Hearing - Bakersfield, CA
- Supplementary Proposed Rule (63 FR 6113--February 6, 1998)
Prior to 1998
- Notice of public workshop and reopening of comment period (62 FR 55198--October 23, 1997)
Public Comments (62 FR 55198)
- Amoco Corporation
- American Petroleum Institute
- ARCO Western Energy
- BP Exploration
- California State Controller's Office
represented by Lobel, Novins & Lamont - Correspondence & Testimony referenced in Comments of the CSCO
Pt. 1
Pt. 2 - Chevron U.S.A. Production Company
- Conoco, Inc.
- Council of Petroleum Accountants Societies (COPAS)
- Coastal Corporation
- Domestic Petroleum Council
- Exxon Company, U.S.A.
- GATO Corporation & Gas Development
- Independent Petroleum Association of America (IPAA)
- Independent Petroleum Association of Mountain States
- Long Beach, Office of the City Attorney
- Marathon Oil Company
- Mobil Oil Corporation represented by Hogan & Hartson
- Preston C. Burchard
- Project on Government Oversight
- Rocky Mountain Oil & Gas Association
- Scurlock Permian Corporation
- Spirit Energy 76
- State of New Mexico Taxation & Revenue Department
- State of Wyoming, Office of the Governor
- Texaco Inc., and its affiliates
- Union Pacific Resources Company represented by Sidley &
Austin Partnership - Western States Petroleum Association
- October 27, 1997 Workshop Notes: Washington, DC
- Notice of workshops on Proposed Rule (62 FR 52518--October 8, 1997)
- October 14, 1997 Second Workshop Notes: Houston, Texas
- October 16, 1997 Workshop Notes: Bakersfield, California
- October 16, 1997 Workshop Notes: Casper, Wyoming
- October 21, 1997 Workshop Notes: Roswell, New Mexico
- Notice of workshops on Proposed Rule (62 FR 50544--September 26, 1997)
- September 30 through October 1, 1997 Workshop Notes: Denver, Colorado
- October 7 and 8, 1997 Workshop Notes: Houston, Texas
- Notice of reopening the public comment period (62 FR 49460--September 22, 1997)
- Supplementary Proposed Rule (62 FR 36030--July 3, 1997)
Public Comments (62 FR 36030)
- American Petroleum Institute
- AMOCO Corporation
- ARCO Western Energy
- BP Exploration
- City Attorney of Long Beach & State of California
- COASTAL Oil & Gas Corporation (The Energy People)
- CONOCO, Inc. (401KB)
- Council of Petroleum Accountants Societies
- EOTT Energy Partners
- EXXON Company U.S.A.
- Harvard University and The Economic Resources Group, Inc.
- Independent Petroleum Association of America (Memo)
- Independent Petroleum Association of America (Table of Exhibits)
- Independent Petroleum Association of Mountain States
- KOCH Oil Company
- Lobel, Noovin & Lamont
- Marathon Oil Company (8/1/97)
- Marathon Oil Company (8/4/97)
- Mobil Oil Corporation
- National Stripper Well Association
- New York Mercantile Exchange (John & Hengerer representing the ...)
- Rocky Mountain Oil and Gas Association (7/30/97)
- Rocky Mountain Oil and Gas Association (Memo & Barnets 1-5)
- Rocky Mountain Oil and Gas Association (Barnets 6-Appendix)
- Shell Offshore, Inc.
- Sidley & Austin
- SPIRIT Energy 76
- State of Montana Dept. of Revenue
- State of Montana Dept. of Revenue
- TEXACO Corporate Communications
- Western States Petroleum Association
- Proposed rule; notice of extension of public comment period (62 FR 19966--April 24, 1997)
- Notice of revised meeting dates (62 FR 7965--February 21, 1997)
- Proposed rule; notice of extension of public comment period (62 FR 7189--February 18, 1997)
- Notice of Meetings on Proposed Rule (62 FR 5355--February 5, 1997)
- Notice of Proposed Rulemaking (62 FR 3742--January 24, 1997)
Public Comments (62 FR 3742)
- Adams, Mark - including letter from National
Archives Office
of the Federal Register - American Petroleum Institute
Memo and Proposal (As Requested Replaced Vol.1 6/6/97)
Table of Contents, List of Attachments, Attachment A
Attachment B
Barents
Attachments C - F
Attachment G
Exhibits A - D, Attachments H and I - Amoco Production Company
- Anadarko Petroleum Corporation
- Apache Corporation
- ARCO Western Energy
- Bellweather Exploration Company
- BHP Petroleum (Americas) Inc.
- BP Exploration & Oil Inc., and its affiliates
- Barret Resources Corporation and Plains
Petroleum
Operating Company - Bassham, Jr., Richard A.
- Breaux, John (Senator) Open Forum
- Burk Royalty Co.
- Burlington Resources Oil and Gas Company
- Calcasieu Refining Company
- California Independent Petroleum Assoc.
- California State Controller's Office
- Chevron Pipe Line Company
- Chevron U.S.A. Producing Co.
- City Council of Nunapitchuk RESOLUTION 97-05
- City of Long Beach and the State of California
- CNG Producing Company (Timothy J. Jacque, Representing)
- Coalition of small refiners
- Coastal Oil & Gas Corporation (collectively)
- Colorado Oil & Gas Association
- Commissioners of the Land Office State of Oklahoma
- Conoco Inc.
- Continental Resources Inc.
- Domestic Petroleum Council
Memo (Part 1)
Memo (Part 2), Table of Exhibits, Exhibits 1 - 3
Exhibit 4 (Part 1)
Exhibit 4 (Part 2)
Exhibit 5
Exhibits 6 - 20 - Eighty Eight Oil Co.
- EOTT Energy Partners, L.P.
- Exxon Company, U.S.A.
Memo and Introduction
Exhibits A - C
Exhibits D - F - Herbaly Petroleum Corporation
- IPAA (Federal & Indian Leases)
- Independent Petroleum Association of America
Memo
Exhibits 1 and 2
Exhibits 3 and 4, Exhibit 5 (Part 1)
Exhibit 5 (Part 2)
Exhibits 6 - 18
Exhibits 19 - 22 - Independent Petroleum Association of Mountain States - IPAMS
- Kalt, Joseph P., Harvard University &
The Economics Resource
Group, Inc. - Kennedy, M. John
- Marathon Oil Company
- Mobil Business Resources Corporation
Memo and Introduction (Part 1)
Introduction (Part 2)
Appendix of Exhibits, Exhibits 1 and 2
Exhibits 3 and 4
Exhibits 5 - 9
Exhibit 10 (Part 1)
Exhibit 10 (Part 2)
Exhibits 11 - 13
Exhibit 14
Exhibit 15
Exhibits 16 - 19
Exhibits 20 - 22
Exhibits 23 and 24 - Moncrief, Jr., W. A.
- Monterey Resources, Inc.
- National Ocean Industries Association
- Navajo Refining Company represented by
Losee, Carson, Hass &
Carroll, P.A. - NGC Oil Trading and Transportation Inc.
- Nuevo Energy Company
- Phillips Petroleum Co. (Fulbright & Jaworski representing ...)
- Phoenix Production Company
- Pogo Producing Company
- Santa Fe Energy Resources, Inc.
- Scurlock Permian Corporation
- Shell Oil Comp any and its affiliates
- Spirit Energy 76/Union Oil Company of California
- State of Louisiana
- State of New Mexico Commissioner of Public Lands
- State of New Mexico Taxation and Revenue Department
- State of Wyoming Office of the Governor
- Summit Resource Management, Inc.
- Sun Company, Inc. (SUNOCO)
- Taylor Energy Company of New Orleans, Louisiana
- Texaco Inc., and its affiliates
Memo
Report of Phillip K. Verleger and Comments by Benjamin Klein
Appendix A, Comments by Samuel A. VanVactor, Participants and
Transactions - The Council of Petroleum Accountant's Societies
- The Independent Petroleum Association of America
- The Rocky Mountain Oil & Gas Association
- Vastar Resources, Inc.
- Western Production Company
- Western States Petroleum Association
- WEXPRO Company
- Wyoming Independent Producers Association
- Wyoming Refining Company
- Adams, Mark - including letter from National
Archives Office
- Advance Notice of Proposed Rulemaking (60 FR 65610--December 20, 1995)
Public Comments (60 FR 65610)
- American Petroleum Institute
- Amoco Corporation
- Calcasieus Refining
- Chevron USA
- David M. Munson, Inc.
- Exxon Company USA
- Independent Petroleum Association of America
- Independent Petroleum Association of Mountain States
- Marathon Oil Company
- Mobil Expl. & Prod. U.S. Inc.
- Rocky Mountain Oil and Gas Assoc.
- Sampson Oil Company
- State and Tribal Royalty Audit Committee
- State of Alaska
- State of California
- State of California
- State of Louisiana
- State of Louisiana
- State of Montana
- State of New Mexico
- State of Oklahoma
- Texaco
- The Navajo Nation
- Univ. of Texas system, Office of General Council
- Western States Land Commissioners
- Final Rule (53 FR 1184--January 15, 1988)
- Notice of Proposed Rulemaking (52 FR 1858--January 15, 1987)
- Further Notice of Proposed Rulemaking (52 FR 30826--August 17, 1987)
- 2nd Further Notice of Proposed Rulemaking (52 FR 35451--September 21, 1987)
- 2nd Further Notice of Proposed Rulemaking (52 FR 39846--October 23, 1987)