Latest / Turley Talks / Ep. 3976 New Jersey Governor ERUPTS As ExxonMobil OFFICIALLY Moves To Texas After 144 Years!!!
Transcript
- 0:00[SPEAKER_00]: The liberal globalist order is on its brink and awakening a new conservative age.
- 0:06[SPEAKER_00]: Dr. Steve Turley, join me every day as we discover answers to today's toughest challenges and explore the re-bondalization of conservative civilization.
- 0:18[SPEAKER_00]: This is Turley Talks.
- 0:22[SPEAKER_00]: 1882.
- 0:23[SPEAKER_00]: That's the year that John D. Rockefeller's standard oil once the most powerful corporation in the history of American capitalism chose the state of New Jersey as it's legal home.
- 0:36[SPEAKER_00]: And for 144 uninterrupted years through two
- 0:40[SPEAKER_00]: who world wars a great depression and oil embargo of financial crisis, the rise and fall of entire industries and every political upheaval America's ever-indrored, that company which eventually became ex-on-mobile, the largest oil producer in the United States never left New Jersey until now.
- 1:04[SPEAKER_00]: As it turns out, no war, no crisis can compare to the disaster of the Democrat party.
- 1:12[SPEAKER_00]: Stick to me the very end of this video because what Exxon Mobile just did is not simply a story about one company making a routine legal housekeeping decision.
- 1:21[SPEAKER_00]: It's a signal.
- 1:22[SPEAKER_00]: a data point and a pattern that's now so large and so undeniable that even the governors of the states being abandoned are beginning to openly acknowledge that something has gone catastrophically wrong.
- 1:35[SPEAKER_00]: You're not going to want to miss this.
- 1:38[SPEAKER_00]: Hey gang, it's me, Dr. Steve, you're a patriot professor and join get another glorious day in the Trumpian Golden Age that you made possible back in November of 2024, so if you want a front row seat on how you continue to change the nation and indeed the world in ways you never even imagined.
- 1:55[SPEAKER_00]: make sure to smack that bell and subscribe button.
- 1:57[SPEAKER_00]: On March 10th, the board of directors of Exxon Mobile voted unanimously to redome a sale, the company to Texas, not a split decision, not a contentious debate where a few dissenters were overruled.
- 2:12[SPEAKER_00]: a unanimous vote by the governing body of a $400 billion corporation to formally and permanently sever its legal ties to the blue state of New Jersey after a century and a half.
- 2:28[SPEAKER_00]: And the statement released by Exxon Mobile CEO Darren Woods, it didn't read like a neutral press release.
- 2:35[SPEAKER_00]: It read like a thank you letter to Texas and a
- 2:38[SPEAKER_00]: break up letter to liberal New Jersey.
- 2:40[SPEAKER_00]: He wrote quote, over the past several years, Texas made a noticeable effort to embrace the business community.
- 2:48[SPEAKER_00]: In doing so, it's created a policy and regulatory environment that can allow the company to maximize shareholder value, 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.
- 3:06[SPEAKER_00]: Now, make sure you get that.
- 3:08[SPEAKER_00]: That was the chairman and CEO of a $400 billion company publicly stating on the record that one state gets it and the other state don't, that one state understands their business and another state don't, that one state has a stake in their company's success and the other state demonstrably does not.
- 3:37[SPEAKER_00]: When the largest oil company in the entire country says that out loud in an official press release, the voters of New Jersey should be up in arms.
- 3:49[SPEAKER_00]: They should be utterly levied against their pathetic state government.
- 3:55[SPEAKER_00]: It is the job of government to govern.
- 3:59[SPEAKER_00]: And a part of that government is attracting the biggest and best companies on the planet to invest in your state, supply jobs, an industry and a flourishing tax space.
- 4:09[SPEAKER_00]: That is, in fact, not what the Democrat government in Trenton is doing.
- 4:15[SPEAKER_00]: They're doing the exact opposite.
- 4:17[SPEAKER_00]: They're scaring businesses away, even ones that have been there for a century and a half.
- 4:23[SPEAKER_00]: And this has been going on now for the last several years.
- 4:26[SPEAKER_00]: By the time of this announcement, 75% of Exxon Mobile's U.S. employees already worked in Texas.
- 4:35[SPEAKER_00]: In fact, it turns out the company's board of directors, they haven't held a meeting in New Jersey, literally in decades, in like 40 years.
- 4:44[SPEAKER_00]: And May of 2024, Exxon Mobile, permanently closed.
- 4:50[SPEAKER_00]: It's 757 acre research facility and 100 in county, New Jersey consolidating those operations in Houston.
- 4:59[SPEAKER_00]: 750 acres of job producing activity gone.
- 5:06[SPEAKER_00]: and now they made that departure official and for good reason back in 2022 new jersey actually filed a lawsuit against ex on mobile and the state has been in an escalating pattern of regulatory conflict with the company for years.
- 5:22[SPEAKER_00]: And so this is why moving their legal home to taxes is such a big deal.
- 5:26[SPEAKER_00]: Redomisiling changes which states laws govern the company, which courts handle its corporate disputes, which regulatory framework shapes every major future decision that ExxonMovals leadership makes.
- 5:42[SPEAKER_00]: the company chose Texas deliberately because Texas didn't just sit around passively waiting for disaffected corporations to show up, Texas went out and built the infrastructure to attract them.
- 5:54[SPEAKER_00]: Again, this is what governance is all about.
- 5:57[SPEAKER_00]: In 2023, Governor Greg Abbott,
- 5:59[SPEAKER_00]: signed a law creating the Texas Business Court.
- 6:02[SPEAKER_00]: It's a specialized legal venue designed to handle complex commercial disputes with speed and predictability that general courts simply can't provide.
- 6:12[SPEAKER_00]: The Texas legislature has since approved legislation making it more difficult to sue board members of companies incorporating the state, creating the 15th Court of Appeals specifically for business
- 6:24[SPEAKER_00]: and commercial cases and systematically modernize their business statutes to make the legal frameworks clear, consistent, and hospitable corporations that want to grow without spending half the revenue on compliance and litigation.
- 6:38[SPEAKER_00]: Exxon mobile's own board filing noted explicitly that the board considered Texas's legal and regulatory environment as decisive in their decision to move down to Texas.
- 6:54[SPEAKER_00]: So they're not just saying Texas is cheaper, they're saying Texas is just it's better governed.
- 7:00[SPEAKER_00]: and Governor Abbott's response to the announcement was about as blunt as a sitting governor can be in a public statement.
- 7:05[SPEAKER_00]: You wrote, freed from the stranglehold of overregulation, Texas is where global brand leaders thrive and jobs for hard-working Texans grow.
- 7:17[SPEAKER_00]: That's governance.
- 7:20[SPEAKER_00]: competent governance.
- 7:22[SPEAKER_00]: But as it turns out, Exxon Mobile is not alone.
- 7:26[SPEAKER_00]: It's perhaps the most historically symbolic entry and a list that grows longer every single month.
- 7:33[SPEAKER_00]: Blue states are literally hemorrhaging businesses.
- 7:37[SPEAKER_00]: You're not going to believe this.
- 7:39[SPEAKER_00]: There is a massive economic exodus out of these dying and decaying Democrat run states that threatens to ultimately destroy the Democrat party once and for all.
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- 10:19[SPEAKER_00]: More and more news outlets are reporting a veritable, mass-caravan of companies leaving blue states for red states, particularly Texas, Tesla, Redomisile to Texas, SpaceX, Redomisile to Texas.
- 10:34[SPEAKER_00]: Chevron moved its global headquarters from California to Houston, Coinbase, Redomisile to Texas, Uber moved from California to Texas, Yamaha Motor moved from California to Georgia.
- 10:46[SPEAKER_00]: since 2020 more than a hundred companies have relocated from California to Texas alone.
- 10:53[SPEAKER_00]: And of course future employees are following.
- 10:57[SPEAKER_00]: residents are leaving blue states by the millions relocating the red states were all the jobs are and this economic exodus is absolutely destroying blue states.
- 11:08[SPEAKER_00]: The New Jersey Chamber of Commerce published an analysis just this month that found that the corporation business tax, New Jersey's second largest general fund revenue source fell
- 11:22[SPEAKER_00]: to negative 38 million in August of 2025, representing a 260% drop from August of 2024.
- 11:31[SPEAKER_00]: Again, not a reduction, a negative number, meaning that the state was paying out more in business tax refunds than it was collecting in new business tax revenue.
- 11:44[SPEAKER_00]: The business alternative income
- 11:51[SPEAKER_00]: Those two business tax is the backbone of the state's entire revenue structure cratered 91% compared with the same period the prior fiscal year.
- 12:02[SPEAKER_00]: Through the first two months of fiscal year 206, the corporation business tax had fallen 55% and why is this happening?
- 12:12[SPEAKER_00]: surprise, surprise, New Jersey, Democrat-infested New Jersey carries the highest corporate tax rate in the entire country at 11.5%.
- 12:25[SPEAKER_00]: For context, only four states in the entire nation have a corporate tax rate above 9%.
- 12:34[SPEAKER_00]: New Jersey leads them all.
- 12:36[SPEAKER_00]: Meanwhile, the state's competing directly against New Jersey for business investment, they're moving in the exactly opposite direction.
- 12:44[SPEAKER_00]: Right Pennsylvania is systematically cutting its corporate rate from 8% down to 5%.
- 12:50[SPEAKER_00]: North Carolina is already all the way down to 2%.
- 12:54[SPEAKER_00]: New Jersey is at 11.5% and why on Earth would anyone have their corporate headquarters in New Jersey?
- 13:03[SPEAKER_00]: I mean, it's absurd, you're literally disappearing 12% of your earnings.
- 13:10[SPEAKER_00]: And then the new governor, this liberal nut, Mikey Cheryl, she's making it worse.
- 13:17[SPEAKER_00]: She can't technically raise taxes any higher, so I mean, she promised she wouldn't in the campaign, but I mean, they're already so high.
- 13:25[SPEAKER_00]: So she went after business deductions and tax credits in ways that further penalize business owners.
- 13:34[SPEAKER_00]: So the point in all of this is that Democrats have yet to learn anything from this mass business, Exodus.
- 13:40[SPEAKER_00]: And so the Exodus is only going to get worse.
- 13:43[SPEAKER_00]: New York will continue to watch businesses leave for Florida.
- 13:46[SPEAKER_00]: California has lost Tesla, SpaceX, Chevron, Oracle in and out burger, right hundreds of smaller companies.
- 13:53[SPEAKER_00]: Illinois lost Cedadel and Boeing and caterpillar.
- 13:57[SPEAKER_00]: And since 2020, California, New York,
- 14:02[SPEAKER_00]: Illinois, New Jersey, and Massachusetts have posted a combined net domestic migration loss of nearly 4 million residents.
- 14:14[SPEAKER_00]: Not companies, but actual human beings left UGs as they're called with the top destination states being North Carolina, Texas, South Carolina, Tennessee, and Arizona.
- 14:25[SPEAKER_00]: red states are growing.
- 14:27[SPEAKER_00]: Blue states are imploding.
- 14:29[SPEAKER_00]: That's going to affect everything.
- 14:32[SPEAKER_00]: There are economies.
- 14:33[SPEAKER_00]: There are education opportunities.
- 14:35[SPEAKER_00]: And yes, the electoral college apportionment as well.
- 14:40[SPEAKER_00]: Red states are set to gain upwards of 12 to 14 electoral college votes and represented as all the while blue states are losing that many.
- 14:51[SPEAKER_00]: Red states are clearly the future of the nation.
- 14:55[SPEAKER_00]: While blue states will find themselves farther and farther behind.
- 14:59[SPEAKER_00]: Maybe then, the residents will finally come to their senses.
- 15:04[SPEAKER_00]: And we'll start voting for a politics that objectively and demonstrably works.
- 15:11[SPEAKER_00]: And then, in doing so, perhaps they will finally end the Democrat Party, once and for all.
- 15:21[SPEAKER_00]: Thanks so much for listening to this episode of The Turley Talks Podcast.
- 15:25[SPEAKER_00]: Don't forget to subscribe, leave us a five star review, and share this episode with your friends.
- 15:30[SPEAKER_00]: Help us defeat the fake news media and rank us the number one news and commentary podcast all over the world.
- 15:37[SPEAKER_00]: Come back again tomorrow for another episode celebrating the rise of a new conservative age.