- What happened: Additional comments from Chevron’s CEO shed new light on the policies that drove the energy producer out of California and to the Lone Star State, including the California Attorney General’s climate nuisance lawsuit. Read more
- Remind me: California is one of dozens of state and local governments to sue energy companies for creating the public nuisance of climate change through the production of a legal product that its citizens rely on every day.
- In his own words: “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… We believe that climate is a matter that’s a global issue and is best addressed through national and global policy engagement, and not through the courts.” –Chevron CEO Mike Wirth
- What else? California’s tax and regulatory burden also received a dishonorable mention.
- TLR Thoughts: Texas’ leadership has made strategic, long-term decisions to build an economic environment that encourages job creation and investment, including the recent creation of our specialized business court. But there’s more to be done.
- The recent proliferation of nuclear verdicts in Texas is making it more expensive to operate and insure a business here, no matter the size.
- Nothing is stopping local governments from filing the same types of burdensome public nuisance lawsuits that we’re seeing across the country.
- The new business court gives us an opportunity to strengthen the corporate governance laws that fall within its purview, helping build out the legal framework for businesses that call Texas home.
