Turin, 14 March (LaPresse) – US President Donald Trump has invoked a Cold War-era law in an attempt to boost oil production off the coast of Southern California and meet demand following the conflict in Iran. This is reported by Axios, which states that Trump has signed an executive order authorising the use of the ‘Defence Production Act’, demonstrating that he is seeking to utilise a variety of tools to try to mitigate the oil price shocks caused by the war. The measure would override state laws and fast-track authorisations for Sable Offshore Corp, a Houston-based company that has been seeking to restart production from California’s offshore platforms.
Trump signs order to activate oil rigs in California
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