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
Toyota’s North American Chief Operating Officer (COO) Jack Hollis criticized U.S. policies promoting electric vehicle adoption (EV) on Friday, according to Bloomberg.
The Toyota COO said that electric vehicle policies are “de facto mandates” that are not in sync with consumer demand, according to Bloomberg. Hollis also said that EV mandates such as those in California are impossible to meet, according to CNBC.
“The whole EV ecosystem is ahead of the consumer,” Hollis told reporters Friday, “It’s not in alignment with consumers. It’s just not.”
The Biden-Harris administration has introduced various EV-related policies as part of President Joe Biden’s climate agenda, including introducing a tailpipe emissions rule in March that would require about 67% of all light-duty vehicles sold after 2032 to be EVs or hybrids. Biden has been leading a push to build half a million public EV chargers nationwide by 2030, that has so far been met with various slowdowns.
Various American automakers have backpedaled on EV goals despite the current administration funneling billions of dollars in subsidies as part of its EV agenda. The California Air Resources Board’s “Advanced Clean Cars II” regulations require that 35% of 2026 model-year vehicles be zero-emission.
“I have not seen a forecast by anyone … government or private, anywhere that has told us that that number is achievable. At this point, it looks impossible,” Hollis said of the zero-emission regulations. “Demand isn’t there. It’s going to limit a customer’s choice of the vehicles they want.”
Many automakers have experienced issues with EV sales, including used EV models experiencing drastic price cuts due to slackening consumer demand. Ford Motor Company announced in October that it lost an additional $1.2 billion on EVs in the third quarter and announced in September that it would offer free EV chargers and home installations to incentivize customers.
Toyota did not immediately respond to a request for comment from the Daily Caller News Foundation.
(Featured Image Media Credit: Flickr/Ivan Radic)
Daily Caller
Court Shoots Down Biden Admin’s Mass Amnesty Order For Hundreds Of Thousands Of Illegal Migrants
From the Daily Caller News Foundation
The Biden-Harris administration suffered a major defeat in federal court on Thursday amid its fight to provide amnesty for up to half a million illegal migrants living in the United States.
President Joe Biden’s executive order that attempted to provide a pathway to citizenship for hundreds of thousands of illegal migrants married to American citizens is unlawful, a federal judge in the U.S. District Court of the Eastern District of Texas ruled on Thursday. Biden’s order, which was first announced over the summer, was challenged by the Texas attorney general and a slate of other GOP-led states.
“Since day one, the Biden-Harris Administration has dedicated itself to the decimation of our immigration system and the erasure of our borders,” stated Gene Hamilton, the executive director of America First Legal, a conservative organization that led the court challenge against the order. “Time and again, the states stood up.
“And today, the great State of Texas and the courageous Ken Paxton, alongside a coalition of other brave Attorneys General, succeeded in stopping an illegal program that would have provided amnesty to hundreds of thousands of illegal aliens and paved the path for the largest administrative amnesty in American history,” Hamilton continued. “We are proud to stand alongside these patriots in defense of our great nation.”
Biden first unveiled the executive order in June during a White House event commemorating the 12-year anniversary of the Deferred Action of Childhood Arrivals (DACA), the last major amnesty program initiated by the federal government. The order — dubbed the Keeping Families Together program — allowed illegal migrant spouses of U.S. citizens to apply for lawful permanent residence without having to leave the country first, according to a fact sheet of the plan released by the administration.
Under current law, illegal immigrants can apply for legal status after they have married a U.S. citizen, but they are required to leave the country in order to move forward with the process. However, Biden’s order attempted to expand a statutory authority known as “parole-in-place”, allowing those noncitizens to wait out the application process while remaining in the country.
Illegal migrants approved for the program would not only be given lawful permanent residence and work permits, but also a pathway to citizenship, according to the plan. The White House expected the order to affect as many as half a million illegal migrants, but America First Legal placed that estimate at more than one million illegal immigrants.
America First Legal partnered with Texas and Idaho, along with a coalition of 14 state attorneys general in August to sue the Biden-Harris administration to block the amnesty order. Later that month, the U.S. District Court of the Eastern District of Texas put a pause on the program, but Biden had vowed to keep fighting.
On Thursday, the court ultimately ruled that the Department of Homeland Security lacked statutory authority to carry out the order.
The White House did not immediately respond to a request for comment from the Daily Caller News Foundation.
(Featured Image Media Credit: Screen Capture/CSPAN)
Liberal Patronage: $330 Million in Questionable Allocations at Canada’s Green Tech Agency
Firm tied to voter registration ‘scheme’ goes dark
Jeff Bezos Is Right: Legacy Media Must Self-Reflect
Dr John Campbell urges a complete moratorium on mRNA vaccines
Joe Rogan Responds To YouTube Censorship of Trump Interview
Business owners receive court approval to proceed with COVID lawsuit against Alberta gov’t
CBS News insider says the network knew the Hunter Biden Laptop was verified
-
International5 hours agoRepublicans on track to control all three branches of government
-
Daily Caller1 day ago‘The End Of My Dream’: Many Migrants In US-Bound Caravan Lose Hope, Turn Around After Trump Victory
-
Economy2 days agoTrudeau Government Capping the Canadian Economy (and Energy Industry) Just to Impress International Agencies
-
Alberta2 days agoFor second year in a row, Alberta oil and gas companies spend more than required on cleanup
-
Business23 hours agoTrump victory means Canada must get serious about tax reform
-
conflict2 days agoHow Biden-Harris blocked a Russia-Ukraine peace deal
-
Business1 day agoParks Canada right to back down from deer-cull boondoggle
-
Automotive6 hours ago
Major Automaker Exec Flatly Says Liberals’ EV ‘Mandates’ Are ‘Impossible’ To Meet