In recent years, we’ve witnessed a notable trend of major corporations fleeing from blue states like California, seeking refuge in states that are perceived as more business-friendly, such as Texas and Florida. The driving forces behind this exodus are the overbearing taxes, stringent regulations, and a somewhat adversarial stance from state governments.
Exxon Mobil Corporation is the latest to join this movement. The company announced on Tuesday that, after 144 years of being incorporated in New Jersey, its Board of Directors has unanimously recommended a shift in its legal domicile to Texas. This decision marks a significant change for the oil giant.
Interestingly, Exxon Mobil chose to bypass former President Joe Biden’s home state as a potential new domicile. Instead, they praised Texas for its welcoming business environment. It’s worth noting that Exxon had already relocated its headquarters to Irving, Texas, back in 1989. This latest move, however, will officially change its legal incorporation to the Lone Star State.
One can’t help but wonder how this shift aligns with the ongoing debate on fossil fuels, especially in states known for their stringent environmental policies.
This is a big one. ExxonMobil to move its state of incorporation from New Jersey to Texas. At one time Delaware would have been the go-to choice for a company like this, but Delaware is the new New Jersey. The go-to choice is now Texas. 1/ pic.twitter.com/yBcfVksQ4G
— Robert Anderson (@ProfRobAnderson) March 10, 2026
On their webpage, the oil giant complimented Texas for embracing business. The company had already moved its headquarters to Irving, Texas, in 1989, but this latest move would change its legal domicile, the state or jurisdiction where it’s legally incorporated.
“Over the past several years, Texas has made a noticeable effort to embrace the business community. In doing so, it has created a policy and regulatory environment that can allow the company to maximize shareholder value,” said Darren Woods, ExxonMobil chairman and chief executive officer. “Aligning our legal home with our operating home, in a state that understands our business and has a stake in the company’s success, is important.”
How’s that war on fossil fuels going for you, blue staters?
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Life will just be easier in Gov. Greg Abbott’s Lone Star State, Exxon wrote:
In making its recommendation, the Board considered Texas’ legal and regulatory environment, including its modernized business statutes and the Texas Business Court, which is designed to resolve complex disputes efficiently. When corporate decisions are challenged, Texas courts are required to apply clear, statute based standards, which support sound decision-making.
Robert Anderson, Professor of Law, Corporate and M&A (mergers and acquisitions), at the University of Arkansas, and whose tweet appeared earlier in the story, had some other salient observations:
This move is significant for many reasons. First, it is a validation that Texas is *pulling* companies in, not just that Delaware is *pushing* them out. Second, it is a validation of Texas’s strategy of unifying corporate law and physical presence in a business-friendly state. 2/
— Robert Anderson (@ProfRobAnderson) March 10, 2026
He said that Delaware, once a top choice for companies, has lost the plot:
This is a good move for ExxonMobil, a good move for Texas, and a great move for corporate law. For many decades, a company like this would’ve *automatically* gone to Delaware. Plaintiffs’ lawyers and their judicial deputies in Delaware ruined their corporate franchise.
— Robert Anderson (@ProfRobAnderson) March 10, 2026
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It seems that Exxon Mobil simply got tired of being harassed and unappreciated:
New Jersey officials sued Exxon, Chevron and other fossil-fuel companies in 2022, alleging they contributed to climate change and forced the state to spend billions cleaning up after major natural disasters such as Superstorm Sandy and Hurricane Ida. The suit was dismissed last year.
Exxon has also faced years of high-profile clashes with activist investors and climate-focused shareholder campaigns.
Shareholders will vote on the proposal at their Annual Meeting in April.
So-called “progressive” policies in all too many states have been utter failures, and the Left’s obsession with climate change has caused little progress but untold billions in headaches.
Sorry, Bruce, but Exxon evidently has a “Hungry Heart.”
Editor’s Note: Progressive policies have hurt America immeasurably.
