Sable Offshore To Reportedly Get Trump Support Via Emergency Law To Restart Production
Sanjeev Kumar | March 12, 2026 4:22 AM CST
A White House official said that any policy announcement would come directly from the president, as per a Bloomberg News report.
U.S. President Donald Trump is reportedly set to summon authorities under the Defense Production Act to preempt state laws and ease permitting for Sable Offshore Corp. (SOC) to restart significant production from a cluster of offshore platforms in California.
Add Asianet Newsable as a Preferred Source
According to a Bloomberg News report, a White House official said that any policy announcement would come directly from the president.
The efforts come at a time when the U.S.-Israel war with Iran has disrupted global supply of oil and other key energy products due to the blockade of Strait of Hormuz by Iran.
Shares of SOC jumped 28% at the time of writing.
Get updates to this developing story directly on Stocktwits.
READ NEXT
-
Union slashes Labour's funding by £500k in furious bin strike row
-
Mauricio Pochettino's fresh comments on Real Madrid job after watching Tottenham disaster
-
UK transport company goes into administration - but 61 jobs saved with buyout
-
Arsenal player ratings vs Bayer Leverkusen as Noni Madueke shines but two 4/10s struggle
-
Meghan Markle blasted for copying Victoria Beckham with new photo
