After more than 140 years of having their headquarters in California Chevron just announced that they are moving their corporate Headquarters to TEXAS!

https://www.wsj.com/business/e...opwebshare_permalink

This may be behind a paywall, sorry.

Good!

I work indirectly with California's oil and gas sector. The state has done everything it can to drive producers and refineries out of state. I just think there's sufficient reason to remain in San Ramon with so much going on midcontinent and around the globe. Chevron's Bakersfield operation is slowing being chocked off with the state slow walking the water permitting process. That's true for all producers in Bakersfield and LA basin.

Gov Newsom will spin this as a win for the climate.

Meanwhile CA continues to pay the highest energy costs in the nation. Hawaii has cheaper gas than most of CA. Go figure.

You have to wonder how long before Texas gets overrun with liberal minded transplants ? Look at Colorado .

What was it that ever made business in California so attractive to begin with?

At one time, it was the state which elected Regan as governor.

quote:

Originally posted by 400m:
What was it that ever made business in California so attractive to begin with?

The domestic US petroleum industry as we know it, started in CA and TX. The movie There Will Be Blood takes place in the early days of Standard Oil. After the court ordered break-up of Standard Oil (circa 1930's?), its California segment became Chevron.
There's a large educated population (4-major universities with top STEM departments, along with a number of academically oriented smaller schools) that sciences, engineering, biotech, defense and medical industries can tap into. Generally once you gain a foothold in a region, its hard to depart as many of your employees are rooted in the area, Chevron is no different as their corporate HQ is located in a highly desired area.
Climate is very favorable and makes living quite attractive, mild compared to the rest of the US humidity is not an issue. Property tax is also low compared to the rest of the country, however income tax and various other taxes, along with a host of regulations have gone up quite a bit over the last 50-years hence the departure of many businesses.

quote:

Originally posted by corsair:
Generally once you gain a foothold in a region, its hard to depart

In other words, you can check out any time you like, but you can never leave!

More to the point, in an interview that aired on CNBC today, Chevron's chief admitted that California's anti-business laws were an important factor in their decision to move their headquarters, IIRC he called them "disastrous." I was surprised that the left-leaning media outlet even aired his words.

^^^^^ Yeah, it's kind of hard to spin and cover up, when company after company keeps making the exodus.

quote:

Originally posted by selogic:
You have to wonder how long before Texas gets overrun with liberal minded transplants ? Look at Colorado .

It’s already happened. For fuksakes, for us Native Texans, spread this bullshit out. Lots of fucking states out there, in free land. The literal, whole south! All this bullshit is doing is driving prices to the stratosphere for natives.

What always irked me about Chevron is that they’re headquartered in CA Bay Area and they have been always the highest price T the gas pumps. WTF!

Will the last corporation to leave please turn out the lights.