After more than a century of operations in California, energy giant Chevron announced that it will move its San Ramon headquarters to Houston, Texas. Bloomberg states the move was primarily due to the state's "adversarial" regulations toward the fossil fuel industry. Chevron's move is more evidence the multi-year mass exodus of companies and residents fleeing the high tax and high crime state is still underway. 

"There will be minimal immediate relocation impacts to other employees currently based in San Ramon. The company expects all corporate functions to migrate to Houston over the next five years," Chevron wrote in a press release. 

The San Ramon headquarters currently has 2,000 employees. These employees will likely be transferred to Houston in the coming years, where the company currently has about 7,000 employees.