Chevron Relocates HQ to Texas

Chevron Corporation announced on Friday its decision to move its headquarters from San Ramon, California, to Houston, Texas, by the end of the year. CEO Mike Wirth cited significant differences in energy policy and regulation between California and Texas as a driving factor for the relocation. Wirth expressed concerns that California's policies increase costs, harm consumers, and deter investment, ultimately impacting the state's economy negatively. Chevron has been based in California for over 140 years, having moved to San Ramon from San Francisco in 2001. The relocation aligns with a broader trend of companies shifting operations from California to Texas, with over 25,000 businesses and 281,000 jobs moving to Texas, compared to 18,000 businesses and 179,000 jobs leaving the state. Chevron currently employs around 7,000 people in the Houston area, while approximately 2,000 employees are based in San Ramon. The company assured that the immediate impact on employees in San Ramon would be minimal. Chevron's Richmond refinery has faced scrutiny due to recent flaring incidents and regulatory challenges. Bay Area air quality regulators have reached settlements with Chevron to comply with stricter emissions standards by 2026. Additionally, Richmond has proposed a measure for the November ballot that would impose a tax on Chevron for oil processed at its refinery, aimed at addressing local pollution concerns. Local leaders, including Congressman Mark DeSaulnier, have urged Chevron to diversify its energy portfolio and invest in renewable energy, reflecting California's ongoing transition towards cleaner energy sources.