Chevron plans to move its headquarters from California to Texas, joining a growing list of companies relocating to California because of excessive regulation.
of Financial Times Reports The second-largest U.S. oil company said Friday it was pulling out of California, the state it has called home for nearly 150 years, after a dispute with officials over climate change policy and penalties it said would force it to “close its operations.”
Other companies that have made similar moves from the West Coast often cite promises of lower taxes and less regulation.
Private citizens are also tired of the trend toward over-regulation.
She’s out https://t.co/mw3WFjh8If
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Elon Musk said in July that he would be relocating his and SpaceX’s headquarters, Breitbart News reported. He cited concerns about California law and the safety of the city as the reason for the move.
Chevron Flagged The company expects all corporate functions to relocate to Houston over the next five years.
Chevron currently has about 7,000 employees in the Houston area, which describes itself as the “energy capital of the world” and is home to more than a third of America’s publicly traded oil and gas groups, including Chevron rival Exxon Mobil.
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M. Pardee, J. Knudsen / Breitbart News
The company operates crude oil fields, technical facilities and two refineries, and supplies oil to more than 1,800 retail outlets in California.
Chevron also said CEO Mike Wirth and Vice Chairman Mark Nelson would relocate from its San Ramon, California, headquarters to Houston, Texas, by the end of the year “to enable better collaboration and engagement with executives, employees and business partners.”
