Chevron Dumps California for Texas After 145 Years.

Chevron Corp., a California-based company, is relocating its headquarters to Texas after facing challenges with strict environmental policies and regulations in California. The move, which marks the end of Chevron's 145-year presence in California, has been welcomed by Texas Governor Greg Abbott as the company's "true home." Chevron had already reduced investments in California refining due to what it described as "adversarial" government policies. The CEO of Chevron, Mike Wirth, stated that the relocation is not politically motivated but rather driven by the desire to be closer to the core of the industry. Texas offers a favorable business climate for Chevron, with a vast network of resources and a strong presence in the energy sector. The move follows a trend of companies leaving California, including Oracle, Hewlett Packard Enterprise, and Tesla, due to tax and cost-of-living considerations. Chevron's decision also reflects the ongoing disagreements between the company and California's leaders over fossil fuel regulations. California has been at the forefront of environmental initiatives, such as reducing tailpipe emissions and adopting climate measures, but it has also experienced the negative impacts of climate change, including droughts and wildfires. The state is a leader in electric vehicle sales and renewable diesel consumption. While California's oil production has declined, states like Texas and New Mexico have seen a boom in crude production. Texas offers favorable taxation, business regulations, and a lower cost of living, making it an attractive destination for companies. Chevron already has a significant presence in Texas, with [Extracted from the article]