Trust busters broke up Rockefeller's Standard Oil near-monopoly in 1911, and one of the fragments was Standard of California. Now known as Chevron, it has been headquartered in California for nearly 115 years.
That is the history. The news is that Chevron is moving their headquarters from San Ramon, CA to Houston, TX. Fox Business News reports:
Contributing to the company's move is likely California's lawsuit filed last year against five big oil companies, including Chevron, and an industry trade group over climate change. The state has also been leaning more into renewable energy policies.
In addition to Chevron, Tesla, X, SpaceX, Oracle and Hewlett Packard Enterprise have moved their headquarters out of California in recent years.
These are the results of CA governmental policies and practices unfriendly to business, for which the state has become known. Texas, on the other hand, is business-friendly and levies no state personal income tax.
