Whoa: Washington Post Editorial Board Takes Exxon’s Side In Leaving NJ

Was this from an alternate WPEB? Because this is not the kind of thing you usually see

Exxon says goodbye to New Jersey

The only surprising aspect of ExxonMobil relocating its legal domicile from New Jersey to Texas is that it took this long.

The company is headquartered in the Houston area, and three-quarters of Exxon’s U.S. employees are already in Texas, but the firm retained a Garden State incorporation as a vestige of its 19th-century legacy as Standard Oil. No more.

In March, Exxon’s board of directors unanimously recommended relocation to Texas, to take advantage of its friendlier business climate. The proposal passed this week at a shareholder meeting with over 70 percent support.

It isn’t difficult to imagine why Exxon wants to move its legal responsibilities from a state that has tried to sue major oil companies to the country’s hydrocarbon capital. CEO Darren Woods said the relocation would situate the company in a state “with legislators, judges and juries” who “understand our business and our contributions to society.”

They should also stop selling their products to the government of the state of NJ. See how that goes. Too bad it would create way too many issues pulling their refining and storage operations out of NJ and moving them

Not everyone is happy. New York City Comptroller Mark Levine (D) urged Exxon shareholders to vote against the relocation because it would “disenfranchise” them. Proxy advisories Glass Lewis and Institutional Shareholder Services claimed it could limit shareholder rights.

In other words, a lot of revenue would be leaving the area, including NYC. Maybe they should have thought of that before going full climalawfare on Exxon and other fossil fuels companies.

Politicians like to blame companies for acting in their self-interest, but that’s the easy way out. If New Jersey and Delaware want to retain companies, let alone attract them, they need to take a hard look at what they’re doing to drive so many away.

They won’t. Their cult and hard left political beliefs will continue to run the states down.