CHEVRON DITCHES CALIFORNIA FOR TEXAS: Chevron is moving its headquarters to Texas from California, where it’s been stationed for more than 140 years, after the state’s climate regulations caused problems for the oil company.
The company announced Friday that it plans to move its headquarters to Houston from San Ramon. Although the company’s corporate roots in California go back to the 1800s, much of its activity has been flowing to Texas in recent years. Chevron has roughly 7,000 employees in the Houston area, compared to 2,000 in California.
The move comes as the company has been public about its differences in policy stances on energy with California.
“We believe California has a number of policies that raise costs, that hurt consumers, that discourage investment and ultimately we think that’s not good for the economy in California and for consumers,” Chevron CEO Mike Wirth told the Wall Street Journal in an interview.
More details: In a press release, the company announced it expects corporate functions to migrate to Houston over the next five years, but noted the immediate relocation efforts will be minimal to employees based in California. Positions in support of the company’s operations in the state will remain in San Ramon.
Some context: Just last year, California Attorney General Rob Bonta sued Chevron, along with other oil majors such as Exxon Mobil and Shell, arguing that the companies had misled the public about their role in climate change. Read more here.
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WHITE HOUSE WEIGHS IN ON PERMITTING PROPOSAL: The Biden administration made clear it supports permitting reform legislation – but wouldn’t give a clear stance on the proposal introduced by Sens. Joe Manchin and John Barrasso, E&E News reports.
In a statement to E&E News, the White House stated it was reviewing the text that advanced out of the Senate Energy and Natural Resources Committee this week. The bill is meant to streamline transmission projects that would aid renewable technologies – but also includes provisions on fossil fuel projects that would put the Biden administration in a tight spot.
A White House spokesperson told the publication the administration wants to ensure clean energy and infrastructure projects “are built quickly and efficiently, reflect community input, and protect our environment and public health.” Read more on that here.
ISA ELECTS ITS NEWEST LEADER: Leticia Carvalho has been elected to be the next secretary general of the International Seabed Authority – becoming the first scientist and woman to steer the organization. But her accession to the top slot could mean a slowed push to mine deep sea beds for critical minerals, Bloomberg writes.
A former Brazilian oceanographer and environmental regulator, her election ends the two-term tenure of Michael Lodge, a British attorney. In contrast, Lodge had pushed for regulations that would stimulate the growth of the seabed mining industry, and was scrutinized for his association with companies the authority regulates.
The 79-34 vote follows a controversial election campaign filled with accusations that a Lodge supporter tried to bribe Carvalho to drop out of the race.
What to expect from Carvalho: The ISA had issued dozens of contracts to companies to explore for critical minerals such as cobalt, nickel, and other metals across more than 500,000 square miles of seabed. The organization had set a deadline of July 2025 to adopt mining regulations governing those efforts. However, Carvalho previously told Bloomberg that years of negotiations are still ahead, to ensure that ecosystems are protected from the effects of mining. More on that here.
SENATE WRDA PASSES BY UNANIMOUS CONSENT: The Senate unanimously passed a water restoration bill Thursday, setting the bill up for conference between the two chambers’ versions.
More about WRDA: The bill, named after retiring Environment and Public Works Chairman Tom Carper, is biennial legislation that would authorize flood control, navigation, and ecosystem restoration projects for the U.S. Army Corps of Engineers across the U.S.
“This bill addresses the diverse water resources needs of our nation and directs the Army Corps of Engineers to continue its work to make our communities more resilient in the face of extreme weather,” Carper said in a written statement.
Along with Carper, committee Ranking Member Sen. Shelley Moore Capito, as well as subcommittee leaders Mark Kelly and Kevin Cramer, helped to craft the legislation.
The House passed its Water Resources Development Act last month in an overwhelmingly bipartisan manner. Keep your eyes peeled for a conferenced bill once lawmakers are back from recess.
EU’S MESSAGE TO CHINA – CONTRIBUTE TO CLIMATE ACTION FUND: The European Union is planning on pressing rising economies, such as China, at COP29 to add money to a fund that would help developing countries curb emissions and build climate resilience, Politico EU scoops.
According to a draft document, the EU will call for an expanded “contributor base” that would reflect the “evolving nature of respective capabilities.”
“Such broadening of contributions provides an opportunity to increase the finance to support the most vulnerable countries and communities and reflects strong global solidarity towards them,” the draft document says. “In this context [the EU] CALLS on all countries according to their financial capabilities, including emerging economies, to contribute to the new goal.”
While the statement doesn’t explicitly name a country, the prepared statement comes amid European officials pushing China to contribute to the fund, arguing that China’s economy has grown considerably while being the top contributor of emissions.
Why this is important: Financing is going to be a hot topic at COP29, as evidenced by the UN Secretary General’s press conference last month calling for additional actions on climate finance. But the draft position hints that the EU may advocate for fewer countries receiving the subsidies, or possibly direct the money to more vulnerable nations. Read more on that here.
RUNDOWN
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