Yet another major company has announced that it will be fleeing California for the more business-friendly state of Texas amid sky-high taxes, rampant crime, insane minimum wage hikes and rising homelessness.
In a statement issued on Friday, Chevron Corporation revealed that it would be relocating its headquarters to Houston, Texas. According to the statement, leadership including Chevron Chairman and CEO Mike Wirth and Vice Chairman Mark Nelson will be moving to Houston by the end of this year, while other employees currently based in San Ramon, California, will not be impacted yet. All corporate functions will be transferring to Texas over the next five years.
Chevron currently has around 2,000 employees in San Ramon, while around 7,000 employees are located in the Houston area.
Like many other companies that fled California — including several of Elon Musk’s companies, such as SpaceX — the decision was made for a variety of reasons related to California’s far-left policies. According to energy analyst David Blackmon, Chevron’s move comes as California continues its war on oil.
“Friday’s announcement seems symbolic of the diminishing presence of both Chevron and the oil industry itself in California. As state leaders have moved to force a transition away from oil and its related products, the state’s once-thriving industry has gradually declined in significance,” Blackmon wrote in a post on his “Energy Absurdities” Substack.
According to reports, Chevron specifically cited “excessive regulation” and “clashes with authorities” over climate policies as reasons that made California “closed for business.”
BREAKING: Chevron plans to move its headquarters from California to Texas due to "excessive regulation" and “clashes with authorities” that made California "closed for business." pic.twitter.com/kvMeaauT3H
— Libs of TikTok (@libsoftiktok) August 2, 2024
Sen. Ted Cruz (R-TX) posted on X in celebration of Chevron’s decision, welcoming them to “a state that loves energy, loves freedom & loves jobs!”
Welcome to Texas! @Chevron will find a state that loves energy, loves freedom & loves jobs!
Chevron leaving California “following clashes with authorities over climate policies and penalties it has said render California ‘closed for business.’” https://t.co/kFEA4DvWeg
— Ted Cruz (@tedcruz) August 2, 2024
While Chevron was not as explicit about its reasoning as other companies that fled California, it is still clear that this pattern of business exodus from the deep-blue state should be concerning for the state’s far-left government — especially because Chevron is not by any means a conservative company. When a relatively non-partisan business makes such a major decision, that should be a clue that California has gone too far.
Following the news, many commentators wondered whether Texas was becoming the next “corporate hotspot,” citing SpaceX’s recent announcement as further proof.
BREAKING: Chevron, $CVX, announces that it will be moving its headquarters from California to Texas.
2 weeks ago, @ElonMusk announced that SpaceX would be moving from California to Texas.
Many companies have followed.
Is Texas replacing California as the corporate hotspot? pic.twitter.com/Xl6Dq5MGOB
— The Kobeissi Letter (@KobeissiLetter) August 2, 2024
