Trump to invoke emergency law for California oil producer Sable, Bloomberg News reports

[littlemissmartypants]

Source: Reuters

U.S. President Donald ​Trump plans to invoke ‌emergency law for Sable Offshore (SOC.N), opens new tab 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 28% to $18.35.

Trump ​is preparing to ​summon authorities under the Defense Production ‌Act ⁠to preempt state laws and ease permitting for Sable as the company ​looks to ​restart ⁠significant production from a cluster of ​offshore platforms in California, ​the ⁠report added.
Sable Offshore did not immediately respond to ⁠a ​Reuters request ​for comment.

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Read more: https://www.reuters.com/business/energy/trump-invoke-emergency-law-california-oil-producer-sable-bloomberg-news-reports-2026-03-11/

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March 11, 20263:20 PM EDT
Updated 17 mins ago

[quaint]

1. Fuck

[twodogsbarking]

2. Will you shut up about egg prices, er I mean gas prices. DJT

[Buddyzbuddy]

3. I originally posted this Mon. 3/9/26

. Hmm, ridiculously high oil prices, what a great way to slip in more deregulation of the oil industry.
Monday
Just to ease the pain at the pumps of course.

[pfitz59]

4. Goodbye sea life

Hello oily beaches

[angrychair]

5. Let's be clear: that's not how oil works

Even if they started this process tomorrow it could be a year or more before we would see a drop of oil.
Not to mention costs. If oil is around $100/barrel then it's likely not even financially viable. The oil still costs what it costs. They cannot just run themselves into bankruptcy just because he says so.

[jgmiller]

6. Oil companies don't waste their own money

They probably want to sell or lease those wells and they can't if they are blocked from going into production. They probably have a buyer lined up who will only do it if the Trump unblocks them. They will then use that money to go after something else they want and the new company might just plan on banking the wells hoping oil goes even higher in the future.

Trump and the GOP act like oil companies are being prevented left and right from pumping, they aren't. Sure there are places they are but there are plenty of places where they have decided it's not worth pumping anymore.

A perfect example is where I live in north Orange County, the Brea-Olinda field has been producing for over 100 years, there used to be thousands of wells around here but as the population grew the land became more valuable than the oil. There is still a large field that produces there but Unocal a few years ago decided it was worth a lot more to abandon the field and sell it for homes. They started shutting down the wells over a year ago and for the last 6 months there has been a small army of workers capping wells and removing equipment and tons of contaminated soil. This has to be costing them tens of millions, they chose to do this; nobody forced them to. They chose to do it because the hundreds and hundreds of acres of land are worth probably over $1B, its going to be a massive development.

[Prairie Gates]

7. Disaster Crony Capitalism

The worst of all worlds.

[popsdenver]

8. Quick Bucks

for inside traders in Trump CABAL

[MoseShrute]

9. I wonder if there's a large reservoir just off the coast of MaryLeggo