Chevron Taking Its Headquarters To Texas
Wall Street Journal,
by
David Blackmon
Original Article
Posted By: Imright,
8/3/2024 1:59:24 AM
U.S. oil and gas giant Chevron announced Friday it will relocate its corporate headquarters from its long-time location in San Ramon, California to Houston, Texas in the coming months.
In a release, the company said chairman and CEO Mike Wirth and vice-chairman Mark Nelson will relocate to Houston by the end of this year, with remaining headquarters employees to make a gradual migration over the next five years. Employees who support the company’s remaining California operations will remain in San Ramon. Currently, Chevron has 2,000 employees in California, and 7,000 in various Texas locations.
Friday’s announcement seems symbolic of the diminishing presence of both Chevron and the oil industry itself in California.
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Reply 1 - Posted by:
DVC 8/3/2024 2:09:43 AM (No. 1771664)
Overdue. California long ago became hostile to all oil and gas companies. Don't pay millions in taxes in a state that wants your company wiped out.
In Texas they will love your company.
25 people like this.
Reply 2 - Posted by:
mifla 8/3/2024 3:55:49 AM (No. 1771679)
Gavin is hoping for a Harris win so the feds will bail out his bankrupt state.
11 people like this.
Reply 3 - Posted by:
Rumblehog 8/3/2024 6:05:19 AM (No. 1771720)
It was stupid to have it in California in the first place. California is about as anti-petroleum as it comes and that sentiment also carries forth into their attitude toward the industry in business matters.
11 people like this.
Reply 4 - Posted by:
Safari Man 8/3/2024 6:26:54 AM (No. 1771729)
Next they'll realize Houston is a blue city and they will relocate to The Woodlands. Only problem is, we're running out of room.
11 people like this.
Reply 5 - Posted by:
4goodnessake 8/3/2024 6:31:22 AM (No. 1771732)
It is time for oil companies to put money behind debunking CO2 as causing global warming.
13 people like this.
Reply 6 - Posted by:
privateer 8/3/2024 6:40:26 AM (No. 1771737)
It's time for otherwise intelligent people to stop lying to themselves, just so they can ride their 'Climate Change' hobbyhorse with their friends.
11 people like this.
Reply 7 - Posted by:
MissNan 8/3/2024 8:14:48 AM (No. 1771781)
Pretty soon even the mosquitoes will be leaving California.
8 people like this.
Reply 8 - Posted by:
Dodge Boy 8/3/2024 9:48:50 AM (No. 1771810)
California politics at its best. Dissing energy self-sufficiency. Achieving full dependence on foreigners. The mullahs and Putie approve. Another unforced error. And now we see that Cal's politicos are dissing solar power, too, because solar panels reflect heat back into the atmosphere and contributes too climate change. Maybe this cast of characters needs to experience freezing in the dark before dissing oil and gas any further.
5 people like this.
Reply 9 - Posted by:
earlybird 8/3/2024 11:05:57 AM (No. 1771852)
Article appears ti be from Forbes, not WSJ.
Chevron is moving its corporate headquarters. It has large refineries in Richmond and El Segundo. From Politico;
"Chevron, the California-based global oil giant, is beginning to mount its defense against a Richmond ballot measure that would impose a $1-per-barrel tax on oil processed at the company’s refinery there.
Andy Walz, president of Americas products for Chevron, spoke with us about the measure ahead of a Thursday press event at the refinery on the initiative.
Walz talked about the company’s future in California, where lawmakers and regulators are also banning the sales of new gas-powered cars, considering a profit cap on refineries, implementing an additional charge on gasoline through the Low Carbon Fuel Standard and suing major oil companies. The company has suggested it might pull out of California if it can’t keep turning a profit here."
https://subscriber.politicopro.com/article/2024/07/nine-questions-for-chevrons-andy-walz-00171169
So much for the Gavin Newsom regime...
2 people like this.
Reply 10 - Posted by:
DVC 8/3/2024 11:46:48 AM (No. 1771880)
All the gun companies have moved out of the northeast which is where they started in the late 1700s to early 1800s and have been ever since.
But, when all those states became deranged anti-gun states, hating these companies who were bringing jobs and tax revenue to their states, and literally trying to put them out of business -- eventually they moved, all down to the southern states where their products and their companies are appreciated and valued, even loved.
Same thing here. Hate on a company long enough and they'll find a new home. Since it isn't easy to move like this, the companies will put up with a lot, but eventually it gets to be too much.
3 people like this.
From a liberal state to a liberal city in a conservative state…
0 people like this.
Reply 12 - Posted by:
DVC 8/3/2024 2:21:28 PM (No. 1771956)
Re #1, Chevron was originally Standard Oil of California.....STARTED there. Many people are unaware of the substantial oil resources in Southern California. If you've ever been down on the beach in the northern part of the LA basin, you may have seen some "tropical islands" complete with "palm trees" a few miles off shore. These are OIL production platforms, disquised as tropical islands with fake steel cutouts of palm trees. And in many neighborhoods in coastal LA basin you run into huge pump jacks, nodding slowly as they pump out the oil. And in central California, there is one of the densest patches of pumpjacks that I have EVER seen at Lost Hills along I-5 east from Paso Robles. One source says over 5,000 wells in maybe two or three square miles. Unbelievably dense.
So, Chevron started out in California, and this makes it a bigger deal when it moves OUT of California. I'm sure it will keep pumping a lot of oil from existing wells, but the state's efforts to strangle them can't make the company happy to pay taxes in the state and be subjected to their tyranny any more.
1 person likes this.
Reply 13 - Posted by:
cor-vet 8/3/2024 3:05:59 PM (No. 1771979)
Was a supervisor for Chevron for 33 years, and fortunately, never had to set foot in Kalifornia. Spent my time in Louisiana and Texas. For the state of Texas, I hope and pray they leave all those Kalifornia employees in Kalifornia. My late sister was married to a Chevon Kalifornia expat to Washington State and they were all weird liberal idiots.
1 person likes this.
Reply 14 - Posted by:
JHHolliday 8/3/2024 3:42:47 PM (No. 1771993)
#2 is correct. California is broke. Their only way out is a massive bailout by the feds (us taxpayers in the rest of the country). The states can't print money so their only other source of income is taxes and they have about strangled that emaciated golden goose. They can continue to sell bonds but my feeling is that the bond market will demand ever increasing interest rates to offset the risks. Maybe the buyers will believe that they will get bailed out too and will continue to lend.
1 person likes this.
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