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Stock impact report

Oil flows through Santa Barbara coastal pipeline for first time in decade amid Trump fight with California [Los Angeles Times (CA)]

Sable Offshore Corp. (SOC) 
Following an executive order from President Trump last week, Sable Offshore Corp. announced Monday that it resumed oil flow through pipelines that run across Santa Barbara, San Luis Obispo and Kern counties. The infrastructure is part of an offshore oil operation that the Houston-based company has been trying to restart for more than a year. The resumption of oil flow marks the latest escalation in a long-running battle between between California officials and the Trump administration over energy policy and safeguards. The network had been shuttered since 2015, when a corroded pipe burst and caused one of the state's worst oil spills. The so-called Santa Ynez unit was under different ownership at the time. Sable had struggled to secure necessary approvals and permits from California regulators to restart the offshore oil operation. In the process, Sable has been accused of repeatedly ignoring the directives of officials, as well as criminal acts related to California environmen Show less Read more
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