Restoring Sable Offshore Corp.’s Santa Ynez unit and pipeline off Santa Barbara aims to address supply disruption risks, according to a department news release. The unit includes three rigs in federal waters, offshore and onshore pipelines, and the Las Flores Canyon Processing Facility. The facility can produce about 50,000 barrels of oil per day and would replace nearly 1.5 million barrels of foreign crude each month, officials said.
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Still, Blankfein in his interview with PBS played down the potential of a broader escalation in the conflict, saying: “We’re not dealing in a part of the world that’s a really big part of the global economy other than the fact that it sources a lot of energy.”