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Samsonite's avatar

Truly amazing that the CCC thinks it is appropriate to call a NYSE publicly traded company a 'fly by night oil company'

Everyone is used to this type of rhetoric but this is from a regulatory agency. Not from a politician or an activist group. It is beyond acceptable and their needs to be legal and financial repercussions for anyone involved in signing off on this statement. This was an ethical breach by the CCC that should not be overlooked. Completely unprofessional and I'm going to guess violated multiple laws and ethics policies. Regulatory bodies have legitimacy for calling balls and strikes. Once they cross the line into advocacy we all have a major problem. CCC crossed the line with this statement.

That said, anyone investing has to understand, Sable is attempting to breach a firewall that many forces in the state of California believe should not and can not be breached. I think our host has approached this issue logically and with respect for the letter of the law. But this is bigger than Sable and law be damned if powerful groups have their way. We are dealing with zealots. They have no fear of a multibillion dollar judgement years from now. Taxpayers will have no choice but to fund this negligence when/if the bill comes due.

That's my biggest callout from this post. You are assuming rational actors that care about costing taxpayers billions if they lose at some federal trial years from now. Not their money they are gambling with.

My position: Dumped at $32+, was surprised I could get out but it appears everyone waited for the hearing. Would love to get back in but right now I need a price in the teens. Too many indicators of darker political forces at play. Just my take. Best of luck to Sable and their investors. Going to watch for now.

Also, the best advocacy you can do for Sable is not buying shares but calling your politicians and writing your local newspapers.

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Justin's avatar

Id love to hear your thoughts on the lease renewal Sable will have to obtain for the 3 mile stretch of water covered by the SLC ( State Lands Commission) and if that lease renewal is in jeopardy due to CCC permits or political activism.

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