(The Center Square) – Energy giant Chevron announced it is relocating its headquarters from San Ramon in California to Houston, Texas. Chevron said it has approximately 2,000 employees in California and will be relocating all corporate staff not supporting its continuing California operations to Houston in the next five years.
While Chevron did not say anything about California in its announcement, it did say it is moving to Houston, the home of America’s energy sector, to “to co-locate with other senior leaders and enable better collaboration and engagement with executives, employees, and business partners.”
In its release, Chevron also noted it wishes to “grow our oil and gas business, lower the carbon intensity of our operations and grow lower carbon businesses in renewable fuels, carbon capture and offsets, hydrogen and other emerging technologies.”
Energy companies had been considering placing a measure on the ballot to roll back SB 1137, a 2022 law that put limits on oil and gas wells within 3,200 feet of schools and homes. They withdrew the measure — after spending $20 million gathering enough signatures — to pursue legal action instead where they believe voters can’t be misled by “unfounded claims.”
“Greedy oil companies know that drilling results in more kids getting asthma, more children born with birth defects, and more communities exposed to toxic, dangerous chemicals – but they would rather put our health at risk than sacrifice a single cent of their billions in profits,” said California Gov. Gavin Newsom when he signed SB 1137 into law and shared his support for a bill limiting oil producers’ profits that he also signed into law.
“Big Oil knows that California is moving beyond fossil fuels, so on their way out these corporations are doing everything they can to squeeze out profits as they pollute our communities,” Newsom continued. “California will hold Big Oil accountable, and it starts with passing our price gouging penalty to prevent extreme gas price spikes like the one we saw last fall.”
Appearing on CNBC to discuss the move, Chevron CEO Michael Wirth said “California is discouraging investment in the energy that runs its economy.”
Chevron is quick on the heels of X and SpaceX; last month, Elon Musk announced he is moving X and SpaceX to Texas after Newsom signed a bill banning parental notification for gender change requests from K-12 students.