After nearly a century and a half, Chevron, a popular energy giant, is abandoning its California roots and relocating its headquarters to Texas. This shocking news has caused a heated debate online, with some business leaders pointing fingers at Governor Gavin Newsom.
They also think that the state’s increasingly strict environmental policies might be the reason. For years, Chevron and California have been at odds. Now, it seems the tension has reached a boiling point, causing Chevron to move to a more business-friendly location.
Chevron Moves Its Headquarters to Texas
Texas Governor Greg Abbott seems happy about this development. Who wouldn’t, anyway? It’s a huge opportunity to house one of the biggest energy giants. According to Abbott, Chevron has found its true home.
But did you know that not everyone is singing the same tune? While Abbott is happy about the new development, Newsom is downplaying the departure. Governor Newsom insists that the move is not the appropriate conclusion of the company’s year-long drift away from the state.
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Elsewhere, Newsom’s detractors are pointing fingers at his policies, suggesting they have created a hostile environment that’s driving businesses out. Chevron’s departure is a big slap to California’s prestige and a major win for Texas’s thriving economy.
What Is Chevron Known for?
Chevron is a giant American multinational energy corporation that specializes in oil and gas. Chevron is active in over 180 countries, and within its area of specialization, it is vertically involved in hydrocarbon exploration, production, refining, and many more.
Chevron was founded in Southern California in the 1870s. It was based in San Francisco for many decades before moving its corporate offices to San Ramon, California, in 2001. However, more recently, the company announced its headquarters relocation to Houston, Texas, by 2025.
Chevron’s history dates back to the second half of the 19th century when it was part of small California-based oil companies that were acquired by Standard and merged into Standard Oil of California.
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After Standard Oil’s breakup, Chevron grew independently, partnering with others both in and out of California. Eventually, the company became one of the Seven Sisters that dominated the global petroleum industry from the 1940s to the 1970s.
In 1985, Standard Oil of California (SOCAL) merged with the Pittsburgh-based Gulf Oil and rebranded as Chevron. Chevron later merged with Texaco in 2001. As previously mentioned, the company manufactures and sells fuels, additives, lubricants, petrochemicals, and more.
In 2018, Chevron produced an average of 791,000 barrels of net oil per day in America.
Where Is the Biggest Chevron in the World?
Terrible’s Road House is a gas station in Jean, Nevada. It houses the world’s biggest Chevron and is also a tourist trap for people traveling from Las Vegas to California. The gas station has over 90 pumps, 60 restroom stalls, and a 50,000 sq ft (4,600 m2) convenience store.
In addition, the station contains a White Castle restaurant, and it is the third to ever open in Western America. Before its opening, the station was meant to employ 100 people, with about 20 people on each shift. The station also has 72 sod fountain heads, six times the average amount, and a 30 feet coffee bar.
On the grounds, you can also find a lounge dedicated to Red Bull; it is the first physical location where enthusiasts of sports drinks can buy merchandise. The center also provides 15 slot and video poker machines. It has a racing theme, with planes suspended from the ceiling and a replica NASCAR car.
How Rich Is Chevron?
According to a chart, Chevron’s net worth as of August 8, 2024, is $264.26B, making it the second-biggest oil company in the United States based on revenue.
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