Tag Archives: Brad Willmore

From: Willmore Doug
Sent: Wednesday, January 04, 2012 6:58 PM
To: L Segundo/cn=Recipients/cn=cityhall/cn=Contacts/cn=EricBusch; L
Segundo/cn=Recipients/cn=cityhall/cn=ALLCOUNCIL; ekbusch@aol.com; allcouncil@elsegundo.org
Subject: FW: Chevron Chamber Package – 1-4-2012.pdf – Adobe Acrobat Standard
Attachments: Chevron Revenue Analysis.pdf

All,

Attached is a comparison of Chevron’s refinery in El Segundo to the other five largest refineries in municipalities in CA.
The ES refinery is the largest (by volume) in the state of CA. As you can see, by almost any useful measure or ratio or
method of comparison, the tax revenue we receive from Chevron is far below those of other refineries in other cities in CA.

You should know that before I had decided to present revenue per acre as one of the ways to evaluate Chevron’s tax
burden, I spoke to a couple of people who I trust who are knowledgeable about local tax structures. They were my brother
Brad, an investment banker in the SF Bay area, and Darrin Casper, my CFO at Salt Lake County. Brad used to do energy
deals for Solomon Brothers on Wall Street and has done more than 15 utility or oil and gas mergers or acquisitions of up
to $5B and knows the business inside and out — especially how they pay their taxes. Darrin used to do energy financing
for oil and gas deals for the firm Lewis Young in the investment banking world before becoming a CFO. Both Brad and
Darrin suggested to me to use revenue per acre as not just one way to analyze Chevron’s local tax structure, but as THE
best way. Brad and Darrin both said comparing one refinery to another is useful, but not as useful as comparing this
refinery to other land uses in your City. … Continue reading →