Trump taps California offshore oil to blunt Iran-war price shocks
TL;DR
President Trump uses the Defense Production Act to speed restart of California offshore oil production via Sable Offshore Corp., aiming to ease price shocks from the Iran war; projected output is about 45,000–60,000 barrels per day, a tiny share of the global impact from Strait of Hormuz closures, but the move draws criticism from California officials and environmentalists.
Topics:businessenergy#california-offshore#defense-production-act#energy#oil-prices#sable-offshore#santa-ynez
- Trump turns to California offshore oil to help with Iran war Axios
- Trump Officials Direct Sable to Resume California Oil Operations Bloomberg.com
- Trump to invoke emergency law for California oil producer Sable, Bloomberg News reports Reuters
- Trump Could Restart California Oil Pipeline With Cold War-Era Law, Opinion Says The New York Times
- Court orders Interior to produce records on offshore lease extension E&E News by POLITICO
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