Daily Caller
‘A Tough Place To Do Business’: Chevron Exec Details Company’s Decision To Move HQ Out Of California
From the Daily Caller News Foundation
By Nick Pope
A top Chevron executive detailed his company’s decision to move its headquarters out of California in a Thursday roundtable with reporters.
Andy Walz, president of Chevron Americas products, said that California’s crusade against conventional energy producers played a role in the company’s decision to move its headquarters to Texas. Measures like California’s 2035 ban on internal combustion engine vehicles and its emissions cap-and-trade rules were specific headwinds that played a role in the company’s decision to move its headquarters to Houston, Walz said.
“It is a difficult place to do business. It’s a difficult place to be headquartered. And we finally said, ‘Hey, that’s enough. We’ve got critical mass, we’re gonna move.’ We’re also going to improve our performance by getting everybody in the same location,” Walz explained.
Walz made clear that part of the reason for Chevron’s headquarters relocation is that parts of its operations and senior leadership have already been stationed in Texas, and that the company believes its performance can improve if employees and executives are in the same place. The company is not walking away from its assets in California, andChevron plans to continue operating them into the future, Walz said.
“California is a tough place to do business. It’s a tough place to recruit people. It’s a tough place to move employees. A lot of our employees move up through the company, they gain experiences in different geographies, different locations, and we have a lot of people that will not move to California. That makes it difficult,” Walz said. “California is a tough place to have a big employee base. It’s tough, its cost of living is expensive, and we were not able to get employees that didn’t live there to move there. And that’s not sustainable for us, to be honest.”
California has the third-highest cost of living of all states, trailing only Hawaii and Massachusetts, Forbes Magazine assessed in July. Overall, California has seen net outflows of population in recent years, with more than 800,000 people moving out of the state in 2022 alone, according to Forbes.
Additionally, more than 350 companies moved their headquarters out of the state between 2018 and 2022, according to Forbes.
“California has said, ‘Hey, you cannot buy a new car that has an internal combustion engine in it after 2035.’ So, that’s a headwind against investing in a refinery. On the books, they have a windfall profits tax or penalty, they’re evaluating how to deal with that, they want to cap the amount of profits you can make in your refinery. That is a headwind for anybody that would want to put money into it to try to get a return on their investment,” Walz said. “And the third thing that maybe is even a bit more crippling is this: they have a program called cap and trade, where they tax your CO2 emissions in the state of California. And that tax continues to go up every year, and it gets more burdensome every single year. So those three regulations, those three policies, really make it hard for me to want to put more capital into the state of California. Therefore, I think the business case there is really challenging.”
“Our competitors are looking at the exact same equation I’m looking at, and our money is going other places, and California can’t get supplied from Houston,” Walz said. “It doesn’t work.”
The Environmental Protection Agency’s (EPA) recently-finalized tailpipe emissions standards for light- and medium-duty vehicles — which have been characterized by critics as an “EV mandate” — are another policy that Walz believes will have “consequences” if implemented.
Walz’s comments on the business environment in California echo Chevron CEO Mike Wirth’s recent remarks to The Wall Street Journal, in which he said that “California has a number of policies that raise costs, that hurt consumers.”
As news of Chevron’s headquarters relocation broke earlier in August, the office of Democratic California Gov. Gavin Newsom told the Daily Caller News Foundation that the company’s decision was the “logical culmination of a long process that has repeatedly been foreshadowed by Chevron.”
From the Daily Caller News Foundation
By Jake Smith
A second wave of blasts swept through Lebanon on Wednesday as more communication devices used by Hezbollah suddenly exploded, according to several reports.
Hand-held radios used by Hezbollah terrorists abruptly exploded in southern Lebanon and the country’s capital of Beirut on Wednesday, according to Reuters. It marks yet another blow to Hezbollah, which the day prior had a large number of its terrorist fighters’ pager devices abruptly explode, causing thousands of injuries.
The devices that detonated on Wednesday appeared to be walkie-talkie devices rather than pagers, according to The Wall Street Journal. The exact size and scope of the attack are still unclear, but at least nine people have been killed and 300 have been injured, The Associated Press reported.
A #Hezbollah walkie talkie explodes at a funeral today in #Lebanon after yesterday’s exploding Hezbollah pagers. pic.twitter.com/b8TIfUUBKq
— Jason Brodsky (@JasonMBrodsky) September 18, 2024
Israel is believed to be behind the coordinated and remote attack on Tuesday, though that has not been confirmed by the Israeli or U.S. governments, according to multiple reports. Explosive devices were reportedly planted into the pagers before they made their way out of a supply and manufacturing chain — which initially was suspected to be in Taiwan — and were shipped to Hezbollah in recent months, according to American and other officials who spoke to The New York Times.
The Taiwanese company in question has denied that it produced the pagers, saying that they were manufactured under license by a company based in Hungary, according to Reuters.
The walkie-talkies that detonated on Wednesday were reportedly also shipped to Hezbollah in recent months, a security source told Reuters.
Significant damage appears to have been made to a motorcycle after a Hezbollah radio exploded. pic.twitter.com/57JfoWDmaQ
— Joe Truzman (@JoeTruzman) September 18, 2024
The official Lebanese news agency also reported that a number of home solar energy systems exploded in Beirut on Wednesday, though it’s unclear whether it was connected to the string of walkie-talkie detonations, according to multiple reports.
Hezbollah has frequently attacked Israel since Oct. 7, the date Hamas invaded Israel and killed roughly 1,200 people. The Hezbollah attacks have created a turbulent situation along the Israeli-Lebanese border and prompted Israeli forces to launch cross-border counterattacks.
Israeli Defense Minister Yoav Gallant reportedly told a U.S. envoy on Monday that the time for a diplomatic solution had “passed because Hezbollah continues to tie itself to Hamas and refuses to end the conflict,” according to Axios.
Daily Caller
Union Bigwigs Decline To Endorse Anyone For President Despite Rank-And-File Members Overwhelmingly Backing Trump
From the Daily Caller News Foundation
The International Brotherhood of Teamsters on Wednesday declined to make an endorsement in the 2024 presidential election just hours after releasing internal polling data showing that the workers it represents strongly favor former President Donald Trump.
Among rank-and-file members of the major union, 59.6% surveyed said they believe the Teamsters should endorse Trump, compared to just 31% voicing support for Vice President Kamala Harris, a more than 25-point gap that remained more or less unchanged after the union ordered a subsequent survey after the Sept. 10 presidential debate. Despite the poll results, the union refused to make an endorsement as there was “no majority support” for Harris and a lack of “universal support” for Trump, it revealed on Wednesday.
A Teamsters spokesperson did not immediately clarify why the union had different standards for the two candidates.
“The Teamsters thank all candidates for meeting with members face-to-face during our unprecedented roundtables,” Teamsters General President Sean O’Brien said. “Unfortunately, neither major candidate was able to make serious commitments to our union to ensure the interests of working people are always put before Big Business. We sought commitments from both Trump and Harris not to interfere in critical union campaigns or core Teamsters industries — and to honor our members’ right to strike — but were unable to secure those pledges.”
The union cited Trump’s refusal to commit to vetoing right-to-work legislation as part of its reasoning for not issuing an endorsement.
The Teamsters, which have historically supported Democrats and often donate to left-of-center causes, made an effort to court Republicans this election cycle. The union made a donation to the Republican National Committee, met with Trump, and O’Brien was even invited to speak at the Republican National Convention. Some on the right have resisted the union’s attempt to ingratiate itself among conservatives, like the Center for Union Facts which put up billboards outside the Republican National Convention calling the Teamsters “two-faced” over its history of liberal spending.
While Republicans were generally open to the Teamsters, the Democratic National Convention snubbed O’Brien by not allowing him to speak at the event, according to The Associated Press.
Harris is considerably less popular among rank-and-file Teamsters than President Joe Biden, who only trailed Trump by about 8 points in a survey ordered by the union prior to his withdrawal from the race. Union leadership met with Harris for a roundtable discussion on Monday, The Hill reported.
“We represent everybody from airline pilots and zookeepers, and we don’t just represent registered Democrats,” O’Brien said to reporters.
The Teamsters’ endorsement could have had a significant impact if it went to either candidate given the concentration of its members in the swing states of Michigan, Nevada and Pennsylvania, according to Reuters.
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