Why These Energy Stocks are Gaining This Week

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1. Sable Offshore Corp. (NYSE:SOC

Share Price Gains Between Dec. 22 and Dec. 29: 14.87%

Topping our list of Energy Stocks that Gained the Most This Week is Sable Offshore Corp. (NYSE:SOC), an independent upstream company focused on developing the Santa Ynez Unit in federal waters offshore California.

After hitting a roadblock with California state authorities, Sable Offshore Corp. (NYSE:SOC) has been seeking federal approval to restart its controversial oil and gas pipeline near Santa Barbara. The company received positive news earlier this month when the U.S. Pipeline and Hazardous Materials Safety Administration (PHMSA) approved its request to shift the pipeline from state to federal oversight, potentially overriding local opposition to the project. Sable announced on December 23 that the pipeline regulator has now further cleared the company’s way by approving its restart plan for portions of the Las Flores Pipeline System.

That said, Sable Offshore Corp. (NYSE:SOC) continues to face resistance from California residents and environmental groups, as the pipeline it aims to restart caused a disaster a decade ago when it leaked 3,000 barrels of crude along the Santa Barbara coastline. The company also received a blow on December 26, when the Environmental Defense Center and the Center for Biological Diversity filed an emergency lawsuit seeking to block the federal government’s approval.

While we acknowledge the potential of SOC to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than SOC and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 12 Best Crude Oil Stocks to Buy for Dividends and 11 Best Performing Energy Stocks in 2025.

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