Second-largest oil company ditches California for Texas to avoid increased regulations
The IndependentThe latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Chevron, the second-largest US oil company, plans to leave its historic headquarters in California and relocate to Texas over the next five years, citing increased regulations and state climate action. “We believe California has a number of policies that raise costs, that hurt consumers, that discourage investment and ultimately we think that’s not good for the economy in California and for consumers,” Chevron CEO Mike Wirth told The Wall Street Journal. In the last year, California passed a law putting limits on excess profit-making from refiners and sued major oil companies, including Chevron, alleging they deceived the public about the climate risks of fossil fuels for decades. Chevron plans to relocate from California to Houston, Texas Chevron has operations across California, including 2,000 employees at a corporate campus in San Ramon, and a large refinery complex in Richmond.