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Stock impact report

Sable Offshore (SOC) Continued its Rally This Week. Here is Why [Yahoo! Finance]

Sable Offshore Corp. (SOC) 
Company Research Source: Yahoo! Finance
Sable Offshore Corp. (NYSE:SOC) is an independent upstream company focused on developing the Santa Ynez Unit in federal waters offshore California. Sable Offshore Corp. (NYSE:SOC) has shot up by around 80% over the last month after the company succeeded in its efforts to receive federal approval to restart its controversial oil and gas pipeline near Santa Barbara, overriding the strong local opposition to the project. However, Sable continues to face resistance from California residents and environmental groups and was even hit with an emergency lawsuit by the Environmental Defense Center and Center for Biological Diversity seeking to block the restart on December 26. The plaintiffs argued that the U.S. Pipeline and Hazardous Materials Safety Administration (PHMSA) had ‘bypassed the required public notice, opportunity for public participation, statement of reasons for its decisions, and other conditions' required under the federal Pipeline Safety Act. However, the pipeline regula Show less Read more
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