Chevron ditches California for Texas, citing climate rules

Chevron is moving its headquarters to Texas from California , where it’s been stationed for more than 140 years, after the state’s climate regulations caused problems for the oil company.

The company announced Friday that it plans to move its headquarters to Houston from San Ramon. Although the company's corporate roots in California stem from the 1800s, much of its activity has been flowing to Texas in recent years. Chevron has roughly 7,000 employees in the Houston area, compared to 2,000 in California.

The move comes as the company has been public about its differences in policy stances on energy with California's.

“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 an interview.

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Just last year, California Attorney General Rob Bonta sued Chevron, along with other oil majors such as Exxon Mobil and Shell, arguing that the companies had misled the public about their role in climate change.