Exxon Mobil Was Evidently ‘Born to Run,’ Because It’s Ditching NJ for Friendlier Business Climes – RedState
You may have heard of many large, high-profile companies heading out the door in blue states like California and heading to more welcoming climes in business-friendly states like Texas and Florida.
For what? They are tired of being constantly hit with taxes, regulations and hostility from state governments.
Now Exxon Mobil Corporation announced Tuesday that, 144 years after its incorporation in the state, its board of directors had unanimously recommended to shareholders that the company’s legal domicile be changed from New Jersey to Texas.
They ignored former President Joe Biden’s home state:
It’s a big problem. ExxonMobil will move its state of incorporation from New Jersey to Texas. At one time, Delaware would have been the ideal choice for a business like this, but Delaware is the new New Jersey. The unavoidable choice is now Texas. 1/ pic.twitter.com/yBcfVksQ4G
– Robert Anderson (@ProfRobAnderson) March 10, 2026
On its webpage, the oil giant praised Texas for going into business. The company had previously moved its headquarters to Irving, Texas, in 1989, but this latest move would change its legal domicilethe state or jurisdiction in which the business is legally incorporated.
“In recent years, Texas has made a notable effort to welcome the business community. In doing so, he has created a policy and regulatory environment that can enable the company to maximize shareholder value,” said Darren Woods, Chairman and CEO of ExxonMobil. “It is important to align our legal headquarters with our operational headquarters, in a state that understands our business and has a stake in the company’s success.”
How’s this war on fossil fuels going for you blue staters?
MORE: Texas gains another big employer at California’s expense
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Life will simply be easier in Governor Greg Abbott’s Lone Star State, Exxon wrote:
In making its recommendation, the Council considered Texas’ legal and regulatory environment, including its modernized business statutes and the Texas Business Court, designed to efficiently resolve complex disputes. When corporate decisions are challenged, Texas courts are required to apply clear, law-based standards that support sound decision-making.
Robert Anderson, professor of law, corporate law, and M&A at the University of Arkansas, whose tweet appeared earlier in the article, made a few other important observations:
This decision is important for many reasons. First, it confirms that Texas *attracts* businesses, not just Delaware *pushes* them. Second, it is a validation of Texas’ strategy to unify corporate law and physical presence in a business-friendly state. 2/
– Robert Anderson (@ProfRobAnderson) March 10, 2026
He said Delaware, once a prime choice for businesses, has lost its way:
It’s a good decision for ExxonMobil, a good decision for Texas, and a great decision for corporate law. For many decades, a business like this would have *automatically* set up shop in Delaware. Plaintiffs’ lawyers and their judicial assistants in Delaware have ruined their right to vote.
– Robert Anderson (@ProfRobAnderson) March 10, 2026
More Winners: Drill, Baby, Drill Leads to Refine, Baby, Refine with New Texas Facility
It seems that Exxon Mobil simply got tired of being harassed and ignored:
New Jersey authorities 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.
In too many states, so-called “progressive” policies have been resounding failures, and the left’s obsession with climate change has produced little progress but billions in headaches.
Sorry, Bruce, but Exxon obviously has a “hungry heart.”
Editor’s note: Progressive policies have harmed America immensely.
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