Daily energy: Chevron abandons California for Texas, White House considers Manchin-Barrasso bill, EU’s message to China

CHEVRON ABORT CALIFORNIA FOR TEXAS: 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 with California.

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

More details: In a press release, the company said it expects corporate functions to migrate to Houston over the next five years, but noted that immediate relocation efforts will be minimal for employees based in California. Positions supporting the company’s operations in the state will remain in San Ramon.

Some context: Just last year, the California attorney general Rob Bonta sued Chevron, along with other oil giants like Exxon Mobil and Shell, arguing that the companies misled the public about their role in climate change. Read more here.

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WHITE HOUSE CONSIDERS PERMITTING PROPOSAL: The Biden administration has made clear its support for reforming the authorization rules but has not taken a clear position on the senators’ proposal. Joe Manchin AND John Barrasso, E&E News reports.

In a statement for E&E NewsThe White House said it was reviewing the text that came out of the Senate Energy and Natural Resources Committee this week. The bill is meant to streamline transmission projects that would help renewable technologies — but it also includes provisions for fossil fuel projects that would put the Biden administration in a bind.

A White House spokesperson told the publication that the administration wants to ensure that clean energy and infrastructure projects “are built quickly and efficiently, reflect community input, and protect our environment and public health.” Read more about that here.

ISA CHOOSES ITS NEW LEADER: Leticia Carvalho has been elected secretary general of the International Seabed Authority – becoming the first female scientist to lead the organisation. But her promotion to the top job could mean a slowdown in deep-sea mineral extraction, Bloomberg I’m writing.

Former Brazilian oceanographer and environmental regulator whose election ends a two-year term Michael Lodge, British lawyer. Lodge, meanwhile, has pushed for regulations that would encourage the development of the seabed mining industry and has been investigated for links with companies regulated by that body.

The 79-34 vote comes after a controversial election campaign that included accusations that a Lodge supporter tried to bribe Carvalho to drop out of the race.

What to expect from Carvalho: ISA has issued dozens of contracts to companies to explore more than 500,000 square miles of seabed for key minerals such as cobalt, nickel and other metals. The organization has set a July 2025 deadline for adopting mining regulations to govern those activities. But Carvalho has said previously, Bloomberg that we still have years of negotiations ahead of us to ensure that ecosystems are protected from the effects of mining. More on this here.

WRDA SENATE PASSES UNANIMOUS CONSENT: The Senate unanimously passed the Water Resources Restoration Act on Thursday, allowing for conferences between the versions of the bill in both chambers.

More about WRDA: The Act, named after the outgoing chairman of the Environment and Public Works Committee Tom Carperis two-year legislation that would authorize the U.S. Army Corps of Engineers for flood control, navigation, and ecosystem restoration projects throughout the United States

“This legislation addresses our nation’s diverse water resource needs and directs the Army Corps of Engineers to continue its work to make our communities more resilient to extreme weather events,” Carper said in a written statement.

In addition to Carper, a member of the committee, Senator. Shelley Moore Capitoand the leaders of the subcommittees Mark Kelly AND Kevin Cramerhelped develop the legislation.

The House passed the Water Resources Development Act last month in overwhelming bipartisan fashion. Stay tuned for the conference bill when lawmakers return from recess.

EU MESSAGE TO CHINA – SUPPORT THE CLIMATE ACTION FUND: The European Union plans to press emerging economies such as China at COP29 to commit money to a fund that would help developing countries reduce emissions and increase resilience to climate change, EU Policy shoulder blades.

According to the draft document, the EU will call for an expanded “base of contributors” that reflects the “evolving nature of different capabilities”.

“This expansion of contributions provides an opportunity to increase financing to support the most vulnerable countries and communities and reflects strong global solidarity with them,” the draft document reads. “In this context, (the EU) CALLS ON all countries in accordance with their financial capacities, including emerging economies, to contribute to the new goal.”

While the statement did not mention any specific country, it came amid pressure from European officials for China to contribute to the fund, arguing that its economy has grown significantly while remaining the largest emitter.

Why is this important: Funding will be a hot topic at COP29, as evidenced by the UN Secretary-General’s press conference last month calling for additional action on climate finance. However, the draft position suggests the EU could advocate for fewer countries receiving grants, or alternatively redirect the money to more vulnerable countries. Read more about this here.

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