Trump to invoke emergency law for California oil producer Sable, Bloomberg News reports [View all]
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/
March 11, 20263:20 PM EDT
Updated 17 mins ago
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