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How will Chevron's profit change in Q3 2024 earnings report due to relocation expenses?
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Chevron's official quarterly earnings report
Story
Chevron Relocates Headquarters from California to Houston After 145 Years
Aug 2, 2024, 02:12 PM
Chevron has announced its decision to relocate its headquarters from San Ramon, California to Houston, Texas, ending a 145-year presence in the state. The move comes after prolonged disputes with California authorities over climate policies and penalties that Chevron claims have made the state inhospitable for business. Chevron CEO Michael Wirth stated that the relocation to Houston is aimed at being closer to the core of the energy industry and enabling better collaboration and engagement. Texas leaders have welcomed the company, emphasizing the state's supportive business environment. This shift follows similar moves by other major companies like Tesla and Oracle, highlighting a broader trend of businesses leaving California due to its regulatory climate. $CVX
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