Chevron Corporation announced Friday it would relocate its headquarters from its California home of more than 140 years to Texas before the end of the year.
The oil giant has often been at odds with California state regulators and politicians over fossil fuels and climate change. Last year, the state sued U.S. oil companies including Chevron , the nation’s second-largest, claiming they deceived the public about the risks of fossil fuels.
Chevron CEO Mike Wirth says the company differs from California on energy policy and regulation.
“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,” Wirth told the Wall Street Journal .
Chevron has operated its headquarters from San Ramon, about 34 miles east of San Francisco in Contra Costa County, since 2002. It moved to the East Bay from its previous headquarters in San Francisco where it had been located since 1879 with the incorporation of the Pacific Coast Oil Company.