Trump to Invoke Emergency Law for Offshore Oil Company Sable (1)

President Donald Trump is preparing to invoke Cold War-era powers to pave the way for renewed oil production off the southern California coast, a long-shot bid to help ease the global crude supply crunch spurred by his war with Iran.

Trump is set to soon summon authorities under the Defense Production Act to preempt state laws and ease permitting for Sable Offshore Corp., a Houston-based company looking to restart significant production from a cluster of offshore platforms in California. The plan was described by a persorn familiar with the matter who asked not to be named because it’s not ...