From: Douglas Grandt answerthecall@me.

com
Subject:Re: This is my final request of you to initiate W.E.C.A.R.E energy policy - oil shortage
Date:November 11, 2018 at 2:48 PM
To:Brian Hughes (Senate ENR-R) Brian_Hughes@energy.senate.gov, Melissa Enriquez (Senate ENR-R)
Melissa_Enriquez@energy.senate.gov, Suzanne Cunningham (Senate ENR-R) Suzanne_Cunningham@energy.senate.gov
Cc: Scott McKee (Senate ENR-D) Scott_McKee@energy.senate.gov, Megan Thompson (Sen. Cantwell)
Megan_Thompson@Cantwell.senate.gov, Katie Thomas (Sen.Sanders) katie_thomas@sanders.senate.gov,
U. S. Senator Bernie Sanders senator@sanders.senate.gov

Dear Honorable Lisa Murkowski, Chairman, Energy & Natural Resources Committee:

A second of two final supporting arguments contraindicating your turning a blind eye to imminent Oil & Gas catastrophe.

CNBC’s headline "There will be an oil shortage in the 2020s, Goldman Sachs says” on Friday underscores the need to do
something comprehensive and responsible in order to defend and protect We the People from the imminent economy-
wide collapse that will likely occur from a physical shortage of petroleum fuels … triggering the crisis that I have feared
and warned warned you the past four years.

There will be an oil shortage in the 2020s, Goldman Sachs says

An oil shortage is coming says Goldman Sachs, because firms cannot fully invest in future
production.
Global oil majors are increasingly looking to invest in lower-carbon areas of the energy sector,
as they react to pressure for cleaner energy, both from government policy and investors.
“In the 2020′s we are going to have a clear physical shortage of oil because nobody is allowed
to fully invest in future oil production,” Michele Della Vigna, Head of EMEA Natural Resources
Research at Goldman Sachs told CNBC Friday.
“The low carbon transition will come through higher, not lower oil prices,” he told CNBC’s
“Squawk Box Europe.”
Della Vigna said “Big Oils” are starting to understand that if they want to be widely owned by
investors, they need to show that they are serious about minimizing the amount of carbon in the
atmosphere.
The Goldman analyst said oil firms only had to look at the steep derating of coal companies over
the last 5 years to understand the shift in investor sentiment.
Della Vigna said until a transition to full renewables is made, the interim battle will be to own a
greater market share of gas-based power. The analyst said with a huge capital cost of gas
infrastructure, big state-backed companies looked best placed.
“We talk about the new seven sisters emerging, dominating the global oil and gas market
because nobody else can finance these mega-projects,” he said.
The “new Seven Sisters” of oil are considered the most influential firms from countries outside
the Organisation for Economic Co-operation and Development (OECD).
They have been identified as Saudi Aramco, Russia’s Gazprom, NIOC of Iran, China National
Petroleum Corp, Brazil’s Petrobras, Venezuela’s PDVSA, and Petronas of Malaysia. The
original “Seven Sisters” were firms in the 1950s who would later consolidate to become BP,
Chevron, Shell, Exxon Mobil and Royal Dutch Shell.
Della Vigna said European oil companies such as U.K. firm Shell and French company Total are
also ahead of U.S. rivals in making the transition from “big oil” to become “big energy”.
Oil markets have been weak in recent days as oversupply concerns and fears of an economic
slowdown have pressured prices. Both Brent and WTI contracts entered bear markets this week
as prices fell around 20 percent from their most recent highs in October.

Doug Grandt
Putney VT
On Nov 10, 2018, at 4:25 PM, Douglas Grandt <answerthecall@me.com> wrote:

ENR Chairman Lisa Murkowski,

In view of the recent election results, you are still in control

of the Senate Energy & Natural Resources Committee.
.

You have done nothing to defend and protect Americans

against the collapse of Oil & Gas resulting from insolvency
and debt default that will imminently result from any least-
suspected trigger collapsing the house of cards they have
created for corporate survival with Financial Engineering.
.

Please initiate truly non-partisan comprehensive legislation

based on factual testimony by the CEOs, CFOs and COOs
to ensure that they will act in the Public Interest &
National Interest as they exercise Fiduciary Duty in the
face of their imminent demise. Based on current price-
earnings ratios, outstanding shares, debt obligations,
dismantling and detox “final expenses," winding down the
industry will take several decades. You must plan for a well-
managed, just endgame.
.

America and the entire global community are counting on

you to act responsibly.
.

W.E.C.A.R.E.
for
World Energy Crisis Aversion
&
Readiness Endgame