As presented this morning:
- Core mission: achieve excellence in system safety across offshore oil and gas industryIndependent auditing function
- Cannot lobby – cannot be the American Petroleum Institute
- Company CEOs and boards of directors provide leadership and ensure engagement of employees with it
- Institute is empowered to use real rewards and sanctions to help all industry players overcome the enemies of safety –ignorance, arrogance, and complacency.
Bud's Offshore Energy (BOE) 
This is “son of INPO”…..Nuclear Industry Safety Institute.
The key role is to provide a center of understanding/knowledge, such that nobody can claim the “we didn’t know that would happen” defense following an incident.
I would understand that this will raise the bar as far as technical understanding within the industry. It is to be welcomed.