Trump to Invoke Emergency Law for California Oil Producer Sable, Bloomberg News Reports

Trump to Invoke Emergency Law for California Oil Producer Sable, Bloomberg News Reports

President Donald Trump plans to invoke emergency law for Sable Offshore as it looks to restart production from a cluster of offshore platforms in California, Bloomberg News reported on Wednesday, citing a person familiar with the matter. Shares of Sable rose 16.3% to $16.75 in afternoon trading. Trump is preparing to summon authorities under the Defense Production Act to preempt state laws and ease permitting for Sable, the report added. The pla…

Trump to Invoke Emergency Law for Offshore Oil Producer Sable - Can the Feds Intervene to Save the Refineries?

In a bold move amid escalating global oil tensions, President Donald Trump is set to invoke the Defense Production Act—a Cold War-era authority—to override California state regulations and fast-track operations for Sable Offshore Corp. This decision targets the reactivation of idle offshore oil platforms off the southern California coast, aiming to bolster domestic crude supply during a tightening global market squeeze. The plan, revealed by sou…