Who Will Buy Sable’s Oil if California Keeps Closing Refineries?

Situated off California’s Santa Barbara coast, the Santa Ynez project operated by Sable Offshore has become a litmus test of President Trump’s determination to revive oil production in a state pursuing a future beyond it. After a decade of shutdowns, its return depended on the Trump administration’s intervention in a prolonged regulatory battle. Originally developed by ExxonMobil, the Santa Ynez complex comprises the Hondo, Harmony and Heritage platforms and their associated onshore infrastructure. Its troubles began in May 2015,…