Trump to invoke emergency law for California oil producer Sable Offshore: Report
President Donald Trump is reportedly planning to invoke emergency law for Sable Offshore, utilizing the Defense Production Act. This move aims to preempt state regulations and expedite permitting, enabling the company to resume significant product...
By Reuters |
U.S. 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 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.
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.
Start a SIP with as low as ₹500 with ET Money App!
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
