Chevron abandons California for Texas, citing climate regulations

Chevron is moving its headquarters from California, where it has been for more than 140 years, to Texas after the state’s climate regulations created problems for the oil company.

The company announced Friday that it plans to move its headquarters from San Ramon to Houston. Although the company’s corporate roots in California date back to the 19th century, most of its operations have moved to Texas in recent years. Chevron employs about 7,000 people in the Houston area, compared with 2,000 in California.

The decision comes after the company publicly disclosed differences in energy policy positions between it and California.

“We believe California has a number of policies that raise costs, hurt consumers, discourage investment and ultimately we believe it’s not good for the California economy or consumers,” said Chevron Chief Executive Mike Wirth. “Wall Street Journal” in the interview.

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Just last year, California Attorney General Rob Bonta sued Chevron and other major oil companies like Exxon Mobil and Shell, claiming the companies misled the public about their role in climate change.