Language

         

 Advertising by Adpathway

Texas Oil Driller Taps Trump’s Team to Save California Crude Project

3 days ago 12

PROTECT YOUR DNA WITH QUANTUM TECHNOLOGY

Orgo-Life the new way to the future

  Advertising by Adpathway

i)8oun20]xmd2f3grjc[3bov_media_dl_1.pngi)8oun20]xmd2f3grjc[3bov_media_dl_1.png US Energy Information Administra

Article content

(Bloomberg) — Sable Offshore Corp. is seeking the Trump administration’s help to jumpstart a California oil project stalled by red tape. 

Financial Post

THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY

Subscribe now to read the latest news in your city and across Canada.

  • Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
  • Daily content from Financial Times, the world's leading global business publication.
  • Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
  • National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
  • Daily puzzles, including the New York Times Crossword.

SUBSCRIBE TO UNLOCK MORE ARTICLES

Subscribe now to read the latest news in your city and across Canada.

  • Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
  • Daily content from Financial Times, the world's leading global business publication.
  • Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
  • National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
  • Daily puzzles, including the New York Times Crossword.

REGISTER / SIGN IN TO UNLOCK MORE ARTICLES

Create an account or sign in to continue with your reading experience.

  • Access articles from across Canada with one account.
  • Share your thoughts and join the conversation in the comments.
  • Enjoy additional articles per month.
  • Get email updates from your favourite authors.

THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.

Create an account or sign in to continue with your reading experience.

  • Access articles from across Canada with one account
  • Share your thoughts and join the conversation in the comments
  • Enjoy additional articles per month
  • Get email updates from your favourite authors

Sign In or Create an Account

or

Article content

The Houston-based company’s effort to tap hundred of millions of barrels of crude off the coast of Santa Barbara have been stymied by state regulators’ opposition to reopening pipelines that funnel the crude to refineries.

Article content

Article content

Article content

If state approval isn’t forthcoming soon, Sable is prepared to go all-in on a plan to use tanker ships to haul the crude away to other markets, said Chief Executive Officer Jim Flores. 

Article content

By signing up you consent to receive the above newsletter from Postmedia Network Inc.

Article content

It’s “absolutely on Trump’s agenda,” Flores said in an interview. He urged state leaders to consider the potential impact on consumers and the state’s fuel supplies if that oil goes overseas instead of to local refineries. “California has an opportunity to make sure California consumers come first.”

Article content

Trump’s National Energy Dominance Council led by Interior Secretary Doug Burgum and Energy Secretary Chris Wright has been apprised of Sable’s dilemma and is engaged in discussions with the company.

Article content

Californians already shoulder some of the highest pump prices in the nation because of stiff environmental rules, bespoke fuel formulations and high taxes. The situation is set to get even more dire in coming months amid refinery shutdowns that will tighten local gasoline and diesel production, and spur increased fuel imports.     

Article content

California Governor Gavin Newsom and the Trump administration have been in open conflict about everything from education to tariffs to immigration. But despite Newsom’s recent rapprochement with the oil industry, Sable has been left out of that embrace. 

Article content

Article content

Newsom’s office declined to comment aside from referencing a Sept. 12 summary of regulatory measures involving Sable’s pipelines.

Article content

The Santa Ynez Unit, as the cluster of offshore oil fields is known, was in a state of suspended animation after a Plains All American pipeline burst in 2015, staining beaches and alarming regulators and environmentalists. Sable acquired the assets from Exxon Mobil Corp. last year, and restarted oil production on the 10-year anniversary of the spill in May. But the onshore pipe network that feeds crude to refineries hasn’t yet been permitted to reopen. 

Article content

The Interior Department declined to comment beyond referring to a July statement lauding the temporary restart.

Article content

Environmental groups have decried Sable’s proposed pipeline restart and a broader push by Newsom to spur more oil drilling in the state.

Article content

“Sable should spend less time looking for help from the Trump administration and more time respecting California laws,” said Julie Teel Simmonds, senior counsel for the Center for Biological Diversity. The proposal to use ships to haul away crude seems “like a deliberate attempt to evade state oversight.”

Read Entire Article

         

        

HOW TO FIGHT BACK WITH THE 5G  

Protect your whole family with Quantum Orgo-Life® devices

  Advertising by Adpathway