Oil prices skyrocketed to a little more than $98 per barrel by March 15, the highest level since oil climbed in 2022 after Russia invaded Ukraine.
An oil platform off the coast of southern California, in this file photo. John Fredricks/The Epoch Times
|Updated:
Energy Secretary Chris Wright on March 13 directed the Texas-based oil company Sable Offshore Corp. to restore operations in water off southern California.
Wright invoked the Defense Production Act to restore the company’s Santa Ynez Unit and Pipeline System near Santa Barbara to address supply disruption risks that “have left the region and U.S. military forces dependent on foreign oil,” according to a Department of Energy statement.
