The capitalist republic of Colombia drills and sells oil to the global markets creating a favorable economic climate with low inflation and a very low cost of living.

While living in Colombia South America for over 2 years my monthly electric bill averaged $18 a month.

In my exploration of Bogotá the capital city I learned that Colombian oil companies sold part of its oil extraction to Chevron Corporation in California whereupon the California legislature then ceremoniously slapped an 8.4% corporate income tax on Chevron’s profits.

This insanely high corporate tax is then passed along to the consumers in California along with the horrendous state gasoline taxes plus the federal gasoline tax burden. This in turn creates a $6-$8 for a gallon of gasoline which in turn drives massive inflation and high food prices.

On Friday August 2nd 2024, Chevron based in San Ramon California announced its 140 year tenure operating and creating wealth in California will be leaving the Gavin Newsom anti capitalist state and is relocating to the business friendly state of Texas by December 2024 at the latest.

WATCH: Chevron announces move from California to Texas

Texas does not have a corporate income tax. Zero. So all you California communists fleeing to Texas for a better future leave your far left ideology at the state line.
The socialist anti capitalist California state legislature, the out of control anti entrepreneurial regulatory commissioners and the far left anti fossil fuel bullies that cry about fraudulent climate change destroying civilization has finally driven the job creating massive oil giant Chevron out of California.

Residents of California will start to feel the pain of this decision sooner rather than later when a gallon of gas probably rises to $10-$15 a gallon.

I made an educated guess last year that this would eventually happen considering the vicious nature of California’s anti entrepreneurial political climate. The business model of California is all about blocking investment and job creation and this is evident by the relocation and exodus of businesses out of the state.

Oracle, X, (formerly Twitter) Space X and Hewlett Packard are among the other tech giants who have recently announced plans to move their headquarters to Texas from California.

With this latest announcement by Chevron the state of California is losing hundreds of millions of dollars in annual tax revenue resulting in more deficit spending by the Gavin Newsom Communists.

The state of California is an example of what not to do regarding free markets, entrepreneurship and job creation.

The government of California is trying to create wealth for itself via high taxes for future redistribution to those not interested in working but capitalism does not work that way. Investors who risk their capital by hard work and sweat equity are not interested in funding government losers.

We wish Chevron much success in its new corporate headquarters in Texas.

©2024. Geoff Ross. All rights reserved.