No, it is not cool. Fine the company and make them clean it up. The pipelines (and this one seems to go from the oil terminal to refineries in greater L.A.) are already double walled to prevent leaks so it seems obvious the company didn't do its regular maintenance enough and it should be fined heavily o discourage that behavior.
That said we are only talking 2500 barrels of oil here so, no, this is not a large spill and more like a leaky pipe. Far more than that naturally seeps out in the Santa Barbara Channel every 24 hours and the wild life are fine there so neither is this a disaster.