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Stock impact report

California judge rebukes Trump-backed plan that bypasses state authority in oil pipeline restart [Los Angeles Times (CA)]

Sable Offshore Corp. (SOC) 
It remains unclear exactly what effect the ruling may have on pipeline operator Sable Offshore Corp., which faces a number of legal challenges from California authorities. Environmental groups, however, celebrated Friday's ruling as a “win for the rule of law,” and Gov. Gavin Newsom called it a “rebuke of the Trump administration and Sable's ploy to illegally use emergency powers to bypass California law.” Last month , the Trump administration invoked the Defense Production Act when it directed Sable to commence operations and send crude flowing through a network of undersea and on-land oil lines. The administration argued that the order preempted several California laws, regulations and court orders, which had, for months, blocked the pipelines' restart. In Friday's ruling , Santa Barbara County Superior Court Judge Donna Geck upheld a preliminary injunction issued last summer against Sable, prohibiting the pipeline system's restart until the Houston-based company adheres to a Show less Read more
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