Were Chevron and other producers to decide, as Walz warns, that continuing operations in a politically hostile California no longer pencils out, the state could see an abrupt and economically devas…
Gas prices at a Chevron gas station in Newhall, CA. Monday, September 18, 2023. The war between Gov. Gavin Newsom and the state’s once-immense oil industry entered a new phase a few days ago when Chevron, California’s oldest and best known producer of gasoline and other petroleum products, announced it was moving its corporate headquarters to Texas.
Initially, Newsom posted on social media a video denouncing oil industry “price gouging,” including a melty-face emoji characterizing the industry’s reaction to California’s efforts to dampen gas prices. A more stinging rebuke came from the Bay Area Council, a business group that hews to a moderate political line and has often been supportive of Newsom.
Just days earlier, Elon Musk, who had already moved his Tesla corporate headquarters to Texas, announced that X and SpaceX would follow. Voters in Richmond, the site of one Chevron refinery, will decide in November whether to impose a special tax on the refinery, $1 per barrel, and the company has accused Richmond’s leaders of “playing chicken” with their largest taxpayer and employer.Politico reported that Andy Walz, a top Chevron executive, warned in an interview about the potential consequences of the Richmond tax measure.
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