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8/9/2019 26 Apr 2015 Letter to US Senate Ctee on Energy
http://slidepdf.com/reader/full/26-apr-2015-letter-to-us-senate-ctee-on-energy 1/22
Douglas A. GrandtPO Box 6603
Lincoln, NE 68506 (510) 432-1452
April 26, 2015
Senator Lisa Murkowski709 Hart Senate Office BuildingWashington, D.C. 20510
Re: Oil Refining - Considering future eventualities versus the myopia of the present (letter #9)
Dear ENR Chairman Murkowski,
Since February 15, I’ve written 8 letters expressing concern about depressed petroleum prices.
April 21 Newsweek underscores a serious conundrum that faces you and the other membersof the Senate Committee on Energy and Natural Resourceswhich you should be considering:
With the United States becoming more dependent upon a petroleum industry that is more andmore subject to external demands from equity marketsincreasing earnings and dividends,and share valuehow will We the People wrest control of our destiny from Corporate Interestand establish a truly secure manifestation of an energy policy solely in the Public Interest?
Congressional hearings are warranted to ask the oil & gas industry CEOs if they will continue tosupply fuels when earnings and dividends fall below breakeven, and unprofitability is imminent.
Sincerely yours,
Doug Grandt
Global banking giant HSBC has warned investors of the growing risk of their fossil fuelassets becoming useless …
In the report, titled ‘Stranded assets: what next?’, analysts warn of the growing likelihoodthat fossil fuel companies may become “economically non-viable” …
“The speed of the collapse in energy prices over the past three quarters has taken the fossilfuel industry by surprise, in our view,” reads the report. “As rigs are dismantled, capex is
cut and operating assets quickly become unprofitable, stranding risks have become muchmore urgent for investors to address, including shorter term investors.”
The paper proposes three options for investors - divesting completely from fossil fuels;shedding the highest risk investments such as coal and oil; or staying the course andengaging with fossil fuel companies as an investor. The report argues that investors who
stay in fossil fuels “may one day be seen to be late movers, on ‘the wrong side of history’”.
HSBC Warns Clients of Fossil Fuel Investment Risks
8/9/2019 26 Apr 2015 Letter to US Senate Ctee on Energy
http://slidepdf.com/reader/full/26-apr-2015-letter-to-us-senate-ctee-on-energy 2/22
Douglas A. GrandtPO Box 6603
Lincoln, NE 68506 (510) 432-1452
April 26, 2015
Senator Lamar Alexander455 Dirksen Senate O!ce Building Washington, D.C. 20510
Re: Oil Refining - Considering future eventualities versus the myopia of the present (letter #9)
Dear Senator Alexander,
Since February 15, I’ve written 8 letters expressing concern about depressed petroleum prices.
April 21 Newsweek underscores a serious conundrum that faces you and the other membersof the Senate Committee on Energy and Natural Resourceswhich you should be considering:
With the United States becoming more dependent upon a petroleum industry that is more andmore subject to external demands from equity marketsincreasing earnings and dividends,and share valuehow will We the People wrest control of our destiny from Corporate Interestand establish a truly secure manifestation of an energy policy solely in the Public Interest?
Congressional hearings are warranted to ask the oil & gas industry CEOs if they will continue tosupply fuels when earnings and dividends fall below breakeven, and unprofitability is imminent.
Sincerely yours,
Doug Grandt
Global banking giant HSBC has warned investors of the growing risk of their fossil fuelassets becoming useless …
In the report, titled ‘Stranded assets: what next?’, analysts warn of the growing likelihoodthat fossil fuel companies may become “economically non-viable” …
“The speed of the collapse in energy prices over the past three quarters has taken the fossilfuel industry by surprise, in our view,” reads the report. “As rigs are dismantled, capex iscut and operating assets quickly become unprofitable, stranding risks have become muchmore urgent for investors to address, including shorter term investors.”
The paper proposes three options for investors - divesting completely from fossil fuels;
shedding the highest risk investments such as coal and oil; or staying the course andengaging with fossil fuel companies as an investor. The report argues that investors who
stay in fossil fuels “may one day be seen to be late movers, on ‘the wrong side of history’”.
HSBC Warns Clients of Fossil Fuel Investment Risks
8/9/2019 26 Apr 2015 Letter to US Senate Ctee on Energy
http://slidepdf.com/reader/full/26-apr-2015-letter-to-us-senate-ctee-on-energy 3/22
Douglas A. GrandtPO Box 6603
Lincoln, NE 68506 (510) 432-1452
April 26, 2015
Senator John Barrasso307 Dirksen Senate O!ce Building Washington, D.C. 20510
Re: Oil Refining - Considering future eventualities versus the myopia of the present (letter #9)
Dear Senator Barrasso,
Since February 15, I’ve written 8 letters expressing concern about depressed petroleum prices.
April 21 Newsweek underscores a serious conundrum that faces you and the other membersof the Senate Committee on Energy and Natural Resourceswhich you should be considering:
With the United States becoming more dependent upon a petroleum industry that is more andmore subject to external demands from equity marketsincreasing earnings and dividends,and share valuehow will We the People wrest control of our destiny from Corporate Interestand establish a truly secure manifestation of an energy policy solely in the Public Interest?
Congressional hearings are warranted to ask the oil & gas industry CEOs if they will continue tosupply fuels when earnings and dividends fall below breakeven, and unprofitability is imminent.
Sincerely yours,
Doug Grandt
Global banking giant HSBC has warned investors of the growing risk of their fossil fuelassets becoming useless …
In the report, titled ‘Stranded assets: what next?’, analysts warn of the growing likelihoodthat fossil fuel companies may become “economically non-viable” …
“The speed of the collapse in energy prices over the past three quarters has taken the fossilfuel industry by surprise, in our view,” reads the report. “As rigs are dismantled, capex iscut and operating assets quickly become unprofitable, stranding risks have become muchmore urgent for investors to address, including shorter term investors.”
The paper proposes three options for investors - divesting completely from fossil fuels;
shedding the highest risk investments such as coal and oil; or staying the course andengaging with fossil fuel companies as an investor. The report argues that investors who
stay in fossil fuels “may one day be seen to be late movers, on ‘the wrong side of history’”.
HSBC Warns Clients of Fossil Fuel Investment Risks
8/9/2019 26 Apr 2015 Letter to US Senate Ctee on Energy
http://slidepdf.com/reader/full/26-apr-2015-letter-to-us-senate-ctee-on-energy 4/22
Douglas A. GrandtPO Box 6603
Lincoln, NE 68506 (510) 432-1452
April 26, 2015
Senator Shelley Capito5 Russell Senate O!ce Building Courtyard Washington, D.C. 20510
Re: Oil Refining - Considering future eventualities versus the myopia of the present (letter #9)
Dear Senator Capito,
Since February 15, I’ve written 8 letters expressing concern about depressed petroleum prices.
April 21 Newsweek underscores a serious conundrum that faces you and the other membersof the Senate Committee on Energy and Natural Resourceswhich you should be considering:
With the United States becoming more dependent upon a petroleum industry that is more andmore subject to external demands from equity marketsincreasing earnings and dividends,and share valuehow will We the People wrest control of our destiny from Corporate Interestand establish a truly secure manifestation of an energy policy solely in the Public Interest?
Congressional hearings are warranted to ask the oil & gas industry CEOs if they will continue tosupply fuels when earnings and dividends fall below breakeven, and unprofitability is imminent.
Sincerely yours,
Doug Grandt
Global banking giant HSBC has warned investors of the growing risk of their fossil fuelassets becoming useless …
In the report, titled ‘Stranded assets: what next?’, analysts warn of the growing likelihoodthat fossil fuel companies may become “economically non-viable” …
“The speed of the collapse in energy prices over the past three quarters has taken the fossilfuel industry by surprise, in our view,” reads the report. “As rigs are dismantled, capex iscut and operating assets quickly become unprofitable, stranding risks have become muchmore urgent for investors to address, including shorter term investors.”
The paper proposes three options for investors - divesting completely from fossil fuels;
shedding the highest risk investments such as coal and oil; or staying the course andengaging with fossil fuel companies as an investor. The report argues that investors who
stay in fossil fuels “may one day be seen to be late movers, on ‘the wrong side of history’”.
HSBC Warns Clients of Fossil Fuel Investment Risks
8/9/2019 26 Apr 2015 Letter to US Senate Ctee on Energy
http://slidepdf.com/reader/full/26-apr-2015-letter-to-us-senate-ctee-on-energy 5/22
Douglas A. GrandtPO Box 6603
Lincoln, NE 68506 (510) 432-1452
April 26, 2015
Senator Bill Cassidy703 Hart Senate O!ce Building Washington, D.C. 20510
Re: Oil Refining - Considering future eventualities versus the myopia of the present (letter #9)
Dear Senator Cassidy,
Since February 15, I’ve written 8 letters expressing concern about depressed petroleum prices.
April 21 Newsweek underscores a serious conundrum that faces you and the other membersof the Senate Committee on Energy and Natural Resourceswhich you should be considering:
With the United States becoming more dependent upon a petroleum industry that is more andmore subject to external demands from equity marketsincreasing earnings and dividends,and share valuehow will We the People wrest control of our destiny from Corporate Interestand establish a truly secure manifestation of an energy policy solely in the Public Interest?
Congressional hearings are warranted to ask the oil & gas industry CEOs if they will continue tosupply fuels when earnings and dividends fall below breakeven, and unprofitability is imminent.
Sincerely yours,
Doug Grandt
Global banking giant HSBC has warned investors of the growing risk of their fossil fuelassets becoming useless …
In the report, titled ‘Stranded assets: what next?’, analysts warn of the growing likelihoodthat fossil fuel companies may become “economically non-viable” …
“The speed of the collapse in energy prices over the past three quarters has taken the fossilfuel industry by surprise, in our view,” reads the report. “As rigs are dismantled, capex iscut and operating assets quickly become unprofitable, stranding risks have become muchmore urgent for investors to address, including shorter term investors.”
The paper proposes three options for investors - divesting completely from fossil fuels;
shedding the highest risk investments such as coal and oil; or staying the course andengaging with fossil fuel companies as an investor. The report argues that investors who
stay in fossil fuels “may one day be seen to be late movers, on ‘the wrong side of history’”.
HSBC Warns Clients of Fossil Fuel Investment Risks
8/9/2019 26 Apr 2015 Letter to US Senate Ctee on Energy
http://slidepdf.com/reader/full/26-apr-2015-letter-to-us-senate-ctee-on-energy 6/22
Douglas A. GrandtPO Box 6603
Lincoln, NE 68506 (510) 432-1452
April 26, 2015
Senator Steve Daines1 Russell Senate O!ce Building Courtyard Washington, D.C. 20510
Re: Oil Refining - Considering future eventualities versus the myopia of the present (letter #9)
Dear Senator Daines,
Since February 15, I’ve written 8 letters expressing concern about depressed petroleum prices.
April 21 Newsweek underscores a serious conundrum that faces you and the other membersof the Senate Committee on Energy and Natural Resourceswhich you should be considering:
With the United States becoming more dependent upon a petroleum industry that is more andmore subject to external demands from equity marketsincreasing earnings and dividends,and share valuehow will We the People wrest control of our destiny from Corporate Interestand establish a truly secure manifestation of an energy policy solely in the Public Interest?
Congressional hearings are warranted to ask the oil & gas industry CEOs if they will continue tosupply fuels when earnings and dividends fall below breakeven, and unprofitability is imminent.
Sincerely yours,
Doug Grandt
Global banking giant HSBC has warned investors of the growing risk of their fossil fuelassets becoming useless …
In the report, titled ‘Stranded assets: what next?’, analysts warn of the growing likelihoodthat fossil fuel companies may become “economically non-viable” …
“The speed of the collapse in energy prices over the past three quarters has taken the fossilfuel industry by surprise, in our view,” reads the report. “As rigs are dismantled, capex iscut and operating assets quickly become unprofitable, stranding risks have become muchmore urgent for investors to address, including shorter term investors.”
The paper proposes three options for investors - divesting completely from fossil fuels;
shedding the highest risk investments such as coal and oil; or staying the course andengaging with fossil fuel companies as an investor. The report argues that investors who
stay in fossil fuels “may one day be seen to be late movers, on ‘the wrong side of history’”.
HSBC Warns Clients of Fossil Fuel Investment Risks
8/9/2019 26 Apr 2015 Letter to US Senate Ctee on Energy
http://slidepdf.com/reader/full/26-apr-2015-letter-to-us-senate-ctee-on-energy 7/22
Douglas A. GrandtPO Box 6603
Lincoln, NE 68506 (510) 432-1452
April 26, 2015
Senator Jeff Flake368 Russell Senate O!ce Building Washington, D.C. 20510
Re: Oil Refining - Considering future eventualities versus the myopia of the present (letter #9)
Dear Senator Flake,
Since February 15, I’ve written 8 letters expressing concern about depressed petroleum prices.
April 21 Newsweek underscores a serious conundrum that faces you and the other membersof the Senate Committee on Energy and Natural Resourceswhich you should be considering:
With the United States becoming more dependent upon a petroleum industry that is more andmore subject to external demands from equity marketsincreasing earnings and dividends,and share valuehow will We the People wrest control of our destiny from Corporate Interestand establish a truly secure manifestation of an energy policy solely in the Public Interest?
Congressional hearings are warranted to ask the oil & gas industry CEOs if they will continue tosupply fuels when earnings and dividends fall below breakeven, and unprofitability is imminent.
Sincerely yours,
Doug Grandt
Global banking giant HSBC has warned investors of the growing risk of their fossil fuelassets becoming useless …
In the report, titled ‘Stranded assets: what next?’, analysts warn of the growing likelihoodthat fossil fuel companies may become “economically non-viable” …
“The speed of the collapse in energy prices over the past three quarters has taken the fossilfuel industry by surprise, in our view,” reads the report. “As rigs are dismantled, capex iscut and operating assets quickly become unprofitable, stranding risks have become muchmore urgent for investors to address, including shorter term investors.”
The paper proposes three options for investors - divesting completely from fossil fuels;
shedding the highest risk investments such as coal and oil; or staying the course andengaging with fossil fuel companies as an investor. The report argues that investors who
stay in fossil fuels “may one day be seen to be late movers, on ‘the wrong side of history’”.
HSBC Warns Clients of Fossil Fuel Investment Risks
8/9/2019 26 Apr 2015 Letter to US Senate Ctee on Energy
http://slidepdf.com/reader/full/26-apr-2015-letter-to-us-senate-ctee-on-energy 8/22
Douglas A. GrandtPO Box 6603
Lincoln, NE 68506 (510) 432-1452
April 26, 2015
Senator Cory GardinerB40B Dirksen Senate O!ce Building Washington, D.C. 20510
Re: Oil Refining - Considering future eventualities versus the myopia of the present (letter #9)
Dear Senator Gardiner,
Since February 15, I’ve written 8 letters expressing concern about depressed petroleum prices.
April 21 Newsweek underscores a serious conundrum that faces you and the other membersof the Senate Committee on Energy and Natural Resourceswhich you should be considering:
With the United States becoming more dependent upon a petroleum industry that is more andmore subject to external demands from equity marketsincreasing earnings and dividends,and share valuehow will We the People wrest control of our destiny from Corporate Interestand establish a truly secure manifestation of an energy policy solely in the Public Interest?
Congressional hearings are warranted to ask the oil & gas industry CEOs if they will continue tosupply fuels when earnings and dividends fall below breakeven, and unprofitability is imminent.
Sincerely yours,
Doug Grandt
Global banking giant HSBC has warned investors of the growing risk of their fossil fuelassets becoming useless …
In the report, titled ‘Stranded assets: what next?’, analysts warn of the growing likelihoodthat fossil fuel companies may become “economically non-viable” …
“The speed of the collapse in energy prices over the past three quarters has taken the fossilfuel industry by surprise, in our view,” reads the report. “As rigs are dismantled, capex iscut and operating assets quickly become unprofitable, stranding risks have become muchmore urgent for investors to address, including shorter term investors.”
The paper proposes three options for investors - divesting completely from fossil fuels;
shedding the highest risk investments such as coal and oil; or staying the course andengaging with fossil fuel companies as an investor. The report argues that investors who
stay in fossil fuels “may one day be seen to be late movers, on ‘the wrong side of history’”.
HSBC Warns Clients of Fossil Fuel Investment Risks
8/9/2019 26 Apr 2015 Letter to US Senate Ctee on Energy
http://slidepdf.com/reader/full/26-apr-2015-letter-to-us-senate-ctee-on-energy 9/22
Douglas A. GrandtPO Box 6603
Lincoln, NE 68506 (510) 432-1452
April 26, 2015
Senator John Hoeven338 Russell Senate O!ce Building Washington, D.C. 20510
Re: Oil Refining - Considering future eventualities versus the myopia of the present (letter #9)
Dear Senator Hoeven,
Since February 15, I’ve written 8 letters expressing concern about depressed petroleum prices.
April 21 Newsweek underscores a serious conundrum that faces you and the other membersof the Senate Committee on Energy and Natural Resourceswhich you should be considering:
With the United States becoming more dependent upon a petroleum industry that is more andmore subject to external demands from equity marketsincreasing earnings and dividends,and share valuehow will We the People wrest control of our destiny from Corporate Interestand establish a truly secure manifestation of an energy policy solely in the Public Interest?
Congressional hearings are warranted to ask the oil & gas industry CEOs if they will continue tosupply fuels when earnings and dividends fall below breakeven, and unprofitability is imminent.
Sincerely yours,
Doug Grandt
Global banking giant HSBC has warned investors of the growing risk of their fossil fuelassets becoming useless …
In the report, titled ‘Stranded assets: what next?’, analysts warn of the growing likelihoodthat fossil fuel companies may become “economically non-viable” …
“The speed of the collapse in energy prices over the past three quarters has taken the fossilfuel industry by surprise, in our view,” reads the report. “As rigs are dismantled, capex iscut and operating assets quickly become unprofitable, stranding risks have become muchmore urgent for investors to address, including shorter term investors.”
The paper proposes three options for investors - divesting completely from fossil fuels;
shedding the highest risk investments such as coal and oil; or staying the course andengaging with fossil fuel companies as an investor. The report argues that investors who
stay in fossil fuels “may one day be seen to be late movers, on ‘the wrong side of history’”.
HSBC Warns Clients of Fossil Fuel Investment Risks
8/9/2019 26 Apr 2015 Letter to US Senate Ctee on Energy
http://slidepdf.com/reader/full/26-apr-2015-letter-to-us-senate-ctee-on-energy 10/22
Douglas A. GrandtPO Box 6603
Lincoln, NE 68506 (510) 432-1452
April 26, 2015
Senator Mike Lee316 Hart Senate O!ce Building Washington, D.C. 20510
Re: Oil Refining - Considering future eventualities versus the myopia of the present (letter #9)
Dear Senator Lee,
Since February 15, I’ve written 8 letters expressing concern about depressed petroleum prices.
April 21 Newsweek underscores a serious conundrum that faces you and the other membersof the Senate Committee on Energy and Natural Resourceswhich you should be considering:
With the United States becoming more dependent upon a petroleum industry that is more andmore subject to external demands from equity marketsincreasing earnings and dividends,and share valuehow will We the People wrest control of our destiny from Corporate Interestand establish a truly secure manifestation of an energy policy solely in the Public Interest?
Congressional hearings are warranted to ask the oil & gas industry CEOs if they will continue tosupply fuels when earnings and dividends fall below breakeven, and unprofitability is imminent.
Sincerely yours,
Doug Grandt
Global banking giant HSBC has warned investors of the growing risk of their fossil fuelassets becoming useless …
In the report, titled ‘Stranded assets: what next?’, analysts warn of the growing likelihoodthat fossil fuel companies may become “economically non-viable” …
“The speed of the collapse in energy prices over the past three quarters has taken the fossilfuel industry by surprise, in our view,” reads the report. “As rigs are dismantled, capex iscut and operating assets quickly become unprofitable, stranding risks have become muchmore urgent for investors to address, including shorter term investors.”
The paper proposes three options for investors - divesting completely from fossil fuels;
shedding the highest risk investments such as coal and oil; or staying the course andengaging with fossil fuel companies as an investor. The report argues that investors who
stay in fossil fuels “may one day be seen to be late movers, on ‘the wrong side of history’”.
HSBC Warns Clients of Fossil Fuel Investment Risks
8/9/2019 26 Apr 2015 Letter to US Senate Ctee on Energy
http://slidepdf.com/reader/full/26-apr-2015-letter-to-us-senate-ctee-on-energy 11/22
Douglas A. GrandtPO Box 6603
Lincoln, NE 68506 (510) 432-1452
April 26, 2015
Senator Rob Portman448 Russell Senate O!ce Building Washington, D.C. 20510
Re: Oil Refining - Considering future eventualities versus the myopia of the present (letter #9)
Dear Senator Portman,
Since February 15, I’ve written 8 letters expressing concern about depressed petroleum prices.
April 21 Newsweek underscores a serious conundrum that faces you and the other membersof the Senate Committee on Energy and Natural Resourceswhich you should be considering:
With the United States becoming more dependent upon a petroleum industry that is more andmore subject to external demands from equity marketsincreasing earnings and dividends,and share valuehow will We the People wrest control of our destiny from Corporate Interestand establish a truly secure manifestation of an energy policy solely in the Public Interest?
Congressional hearings are warranted to ask the oil & gas industry CEOs if they will continue tosupply fuels when earnings and dividends fall below breakeven, and unprofitability is imminent.
Sincerely yours,
Doug Grandt
Global banking giant HSBC has warned investors of the growing risk of their fossil fuelassets becoming useless …
In the report, titled ‘Stranded assets: what next?’, analysts warn of the growing likelihoodthat fossil fuel companies may become “economically non-viable” …
“The speed of the collapse in energy prices over the past three quarters has taken the fossilfuel industry by surprise, in our view,” reads the report. “As rigs are dismantled, capex iscut and operating assets quickly become unprofitable, stranding risks have become muchmore urgent for investors to address, including shorter term investors.”
The paper proposes three options for investors - divesting completely from fossil fuels;
shedding the highest risk investments such as coal and oil; or staying the course andengaging with fossil fuel companies as an investor. The report argues that investors who
stay in fossil fuels “may one day be seen to be late movers, on ‘the wrong side of history’”.
HSBC Warns Clients of Fossil Fuel Investment Risks
8/9/2019 26 Apr 2015 Letter to US Senate Ctee on Energy
http://slidepdf.com/reader/full/26-apr-2015-letter-to-us-senate-ctee-on-energy 12/22
Douglas A. GrandtPO Box 6603
Lincoln, NE 68506 (510) 432-1452
April 26, 2015
Senator James E. Risch483 Russell Senate O!ce Building Washington, D.C. 20510
Re: Oil Refining - Considering future eventualities versus the myopia of the present (letter #9)
Dear Senator Risch,
Since February 15, I’ve written 8 letters expressing concern about depressed petroleum prices.
April 21 Newsweek underscores a serious conundrum that faces you and the other membersof the Senate Committee on Energy and Natural Resourceswhich you should be considering:
With the United States becoming more dependent upon a petroleum industry that is more andmore subject to external demands from equity marketsincreasing earnings and dividends,and share valuehow will We the People wrest control of our destiny from Corporate Interestand establish a truly secure manifestation of an energy policy solely in the Public Interest?
Congressional hearings are warranted to ask the oil & gas industry CEOs if they will continue tosupply fuels when earnings and dividends fall below breakeven, and unprofitability is imminent.
Sincerely yours,
Doug Grandt
Global banking giant HSBC has warned investors of the growing risk of their fossil fuelassets becoming useless …
In the report, titled ‘Stranded assets: what next?’, analysts warn of the growing likelihoodthat fossil fuel companies may become “economically non-viable” …
“The speed of the collapse in energy prices over the past three quarters has taken the fossilfuel industry by surprise, in our view,” reads the report. “As rigs are dismantled, capex iscut and operating assets quickly become unprofitable, stranding risks have become muchmore urgent for investors to address, including shorter term investors.”
The paper proposes three options for investors - divesting completely from fossil fuels;
shedding the highest risk investments such as coal and oil; or staying the course andengaging with fossil fuel companies as an investor. The report argues that investors who
stay in fossil fuels “may one day be seen to be late movers, on ‘the wrong side of history’”.
HSBC Warns Clients of Fossil Fuel Investment Risks
8/9/2019 26 Apr 2015 Letter to US Senate Ctee on Energy
http://slidepdf.com/reader/full/26-apr-2015-letter-to-us-senate-ctee-on-energy 13/22
Douglas A. GrandtPO Box 6603
Lincoln, NE 68506 (510) 432-1452
April 26, 2015
Senator Maria Cantwell511 Hart Senate O!ce Building Washington, D.C. 20510
Re: Oil Refining - Considering future eventualities versus the myopia of the present (letter #9)
Dear Senator Cantwell,
Since February 15, I’ve written 8 letters expressing concern about depressed petroleum prices.
April 21 Newsweek underscores a serious conundrum that faces you and the other membersof the Senate Committee on Energy and Natural Resourceswhich you should be considering:
With the United States becoming more dependent upon a petroleum industry that is more andmore subject to external demands from equity marketsincreasing earnings and dividends,and share valuehow will We the People wrest control of our destiny from Corporate Interestand establish a truly secure manifestation of an energy policy solely in the Public Interest?
Congressional hearings are warranted to ask the oil & gas industry CEOs if they will continue tosupply fuels when earnings and dividends fall below breakeven, and unprofitability is imminent.
Sincerely yours,
Doug Grandt
Global banking giant HSBC has warned investors of the growing risk of their fossil fuelassets becoming useless …
In the report, titled ‘Stranded assets: what next?’, analysts warn of the growing likelihoodthat fossil fuel companies may become “economically non-viable” …
“The speed of the collapse in energy prices over the past three quarters has taken the fossilfuel industry by surprise, in our view,” reads the report. “As rigs are dismantled, capex iscut and operating assets quickly become unprofitable, stranding risks have become muchmore urgent for investors to address, including shorter term investors.”
The paper proposes three options for investors - divesting completely from fossil fuels;
shedding the highest risk investments such as coal and oil; or staying the course andengaging with fossil fuel companies as an investor. The report argues that investors who
stay in fossil fuels “may one day be seen to be late movers, on ‘the wrong side of history’”.
HSBC Warns Clients of Fossil Fuel Investment Risks
8/9/2019 26 Apr 2015 Letter to US Senate Ctee on Energy
http://slidepdf.com/reader/full/26-apr-2015-letter-to-us-senate-ctee-on-energy 14/22
Douglas A. GrandtPO Box 6603
Lincoln, NE 68506 (510) 432-1452
April 26, 2015
Senator Al Franken309 Hart Senate O!ce Building Washington, D.C. 20510
Re: Oil Refining - Considering future eventualities versus the myopia of the present (letter #9)
Dear Senator Franken,
Since February 15, I’ve written 8 letters expressing concern about depressed petroleum prices.
April 21 Newsweek underscores a serious conundrum that faces you and the other membersof the Senate Committee on Energy and Natural Resourceswhich you should be considering:
With the United States becoming more dependent upon a petroleum industry that is more andmore subject to external demands from equity marketsincreasing earnings and dividends,and share valuehow will We the People wrest control of our destiny from Corporate Interestand establish a truly secure manifestation of an energy policy solely in the Public Interest?
Congressional hearings are warranted to ask the oil & gas industry CEOs if they will continue tosupply fuels when earnings and dividends fall below breakeven, and unprofitability is imminent.
Sincerely yours,
Doug Grandt
Global banking giant HSBC has warned investors of the growing risk of their fossil fuelassets becoming useless …
In the report, titled ‘Stranded assets: what next?’, analysts warn of the growing likelihoodthat fossil fuel companies may become “economically non-viable” …
“The speed of the collapse in energy prices over the past three quarters has taken the fossilfuel industry by surprise, in our view,” reads the report. “As rigs are dismantled, capex iscut and operating assets quickly become unprofitable, stranding risks have become muchmore urgent for investors to address, including shorter term investors.”
The paper proposes three options for investors - divesting completely from fossil fuels;
shedding the highest risk investments such as coal and oil; or staying the course andengaging with fossil fuel companies as an investor. The report argues that investors who
stay in fossil fuels “may one day be seen to be late movers, on ‘the wrong side of history’”.
HSBC Warns Clients of Fossil Fuel Investment Risks
8/9/2019 26 Apr 2015 Letter to US Senate Ctee on Energy
http://slidepdf.com/reader/full/26-apr-2015-letter-to-us-senate-ctee-on-energy 15/22
Douglas A. GrandtPO Box 6603
Lincoln, NE 68506 (510) 432-1452
April 26, 2015
Senator Martin Heinrich702 Hart Senate O!ce Building Washington, D.C. 20510
Re: Oil Refining - Considering future eventualities versus the myopia of the present (letter #9)
Dear Senator Heinrich,
Since February 15, I’ve written 8 letters expressing concern about depressed petroleum prices.
April 21 Newsweek underscores a serious conundrum that faces you and the other membersof the Senate Committee on Energy and Natural Resourceswhich you should be considering:
With the United States becoming more dependent upon a petroleum industry that is more andmore subject to external demands from equity marketsincreasing earnings and dividends,and share valuehow will We the People wrest control of our destiny from Corporate Interestand establish a truly secure manifestation of an energy policy solely in the Public Interest?
Congressional hearings are warranted to ask the oil & gas industry CEOs if they will continue tosupply fuels when earnings and dividends fall below breakeven, and unprofitability is imminent.
Sincerely yours,
Doug Grandt
Global banking giant HSBC has warned investors of the growing risk of their fossil fuelassets becoming useless …
In the report, titled ‘Stranded assets: what next?’, analysts warn of the growing likelihoodthat fossil fuel companies may become “economically non-viable” …
“The speed of the collapse in energy prices over the past three quarters has taken the fossilfuel industry by surprise, in our view,” reads the report. “As rigs are dismantled, capex iscut and operating assets quickly become unprofitable, stranding risks have become muchmore urgent for investors to address, including shorter term investors.”
The paper proposes three options for investors - divesting completely from fossil fuels;
shedding the highest risk investments such as coal and oil; or staying the course andengaging with fossil fuel companies as an investor. The report argues that investors who
stay in fossil fuels “may one day be seen to be late movers, on ‘the wrong side of history’”.
HSBC Warns Clients of Fossil Fuel Investment Risks
8/9/2019 26 Apr 2015 Letter to US Senate Ctee on Energy
http://slidepdf.com/reader/full/26-apr-2015-letter-to-us-senate-ctee-on-energy 16/22
Douglas A. GrandtPO Box 6603
Lincoln, NE 68506 (510) 432-1452
April 26, 2015
Senator Mazie Hirono330 Hart Senate O!ce Building Washington, D.C. 20510
Re: Oil Refining - Considering future eventualities versus the myopia of the present (letter #9)
Dear Senator Hirono,
Since February 15, I’ve written 8 letters expressing concern about depressed petroleum prices.
April 21 Newsweek underscores a serious conundrum that faces you and the other membersof the Senate Committee on Energy and Natural Resourceswhich you should be considering:
With the United States becoming more dependent upon a petroleum industry that is more andmore subject to external demands from equity marketsincreasing earnings and dividends,and share valuehow will We the People wrest control of our destiny from Corporate Interestand establish a truly secure manifestation of an energy policy solely in the Public Interest?
Congressional hearings are warranted to ask the oil & gas industry CEOs if they will continue tosupply fuels when earnings and dividends fall below breakeven, and unprofitability is imminent.
Sincerely yours,
Doug Grandt
Global banking giant HSBC has warned investors of the growing risk of their fossil fuelassets becoming useless …
In the report, titled ‘Stranded assets: what next?’, analysts warn of the growing likelihoodthat fossil fuel companies may become “economically non-viable” …
“The speed of the collapse in energy prices over the past three quarters has taken the fossilfuel industry by surprise, in our view,” reads the report. “As rigs are dismantled, capex iscut and operating assets quickly become unprofitable, stranding risks have become muchmore urgent for investors to address, including shorter term investors.”
The paper proposes three options for investors - divesting completely from fossil fuels;
shedding the highest risk investments such as coal and oil; or staying the course andengaging with fossil fuel companies as an investor. The report argues that investors who
stay in fossil fuels “may one day be seen to be late movers, on ‘the wrong side of history’”.
HSBC Warns Clients of Fossil Fuel Investment Risks
8/9/2019 26 Apr 2015 Letter to US Senate Ctee on Energy
http://slidepdf.com/reader/full/26-apr-2015-letter-to-us-senate-ctee-on-energy 17/22
Douglas A. GrandtPO Box 6603
Lincoln, NE 68506 (510) 432-1452
April 26, 2015
Senator Joe Manchin306 Hart Senate O!ce Building Washington, D.C. 20510
Re: Oil Refining - Considering future eventualities versus the myopia of the present (letter #9)
Dear Senator Manchin,
Since February 15, I’ve written 8 letters expressing concern about depressed petroleum prices.
April 21 Newsweek underscores a serious conundrum that faces you and the other membersof the Senate Committee on Energy and Natural Resourceswhich you should be considering:
With the United States becoming more dependent upon a petroleum industry that is more andmore subject to external demands from equity marketsincreasing earnings and dividends,and share valuehow will We the People wrest control of our destiny from Corporate Interestand establish a truly secure manifestation of an energy policy solely in the Public Interest?
Congressional hearings are warranted to ask the oil & gas industry CEOs if they will continue tosupply fuels when earnings and dividends fall below breakeven, and unprofitability is imminent.
Sincerely yours,
Doug Grandt
Global banking giant HSBC has warned investors of the growing risk of their fossil fuelassets becoming useless …
In the report, titled ‘Stranded assets: what next?’, analysts warn of the growing likelihoodthat fossil fuel companies may become “economically non-viable” …
“The speed of the collapse in energy prices over the past three quarters has taken the fossilfuel industry by surprise, in our view,” reads the report. “As rigs are dismantled, capex iscut and operating assets quickly become unprofitable, stranding risks have become muchmore urgent for investors to address, including shorter term investors.”
The paper proposes three options for investors - divesting completely from fossil fuels;
shedding the highest risk investments such as coal and oil; or staying the course andengaging with fossil fuel companies as an investor. The report argues that investors who
stay in fossil fuels “may one day be seen to be late movers, on ‘the wrong side of history’”.
HSBC Warns Clients of Fossil Fuel Investment Risks
8/9/2019 26 Apr 2015 Letter to US Senate Ctee on Energy
http://slidepdf.com/reader/full/26-apr-2015-letter-to-us-senate-ctee-on-energy 18/22
Douglas A. GrandtPO Box 6603
Lincoln, NE 68506 (510) 432-1452
April 26, 2015
Senator Debbie Stabenow731 Hart Senate O!ce Building Washington, D.C. 20510
Re: Oil Refining - Considering future eventualities versus the myopia of the present (letter #9)
Dear Senator Stabenow,
Since February 15, I’ve written 8 letters expressing concern about depressed petroleum prices.
April 21 Newsweek underscores a serious conundrum that faces you and the other membersof the Senate Committee on Energy and Natural Resourceswhich you should be considering:
With the United States becoming more dependent upon a petroleum industry that is more andmore subject to external demands from equity marketsincreasing earnings and dividends,and share valuehow will We the People wrest control of our destiny from Corporate Interestand establish a truly secure manifestation of an energy policy solely in the Public Interest?
Congressional hearings are warranted to ask the oil & gas industry CEOs if they will continue tosupply fuels when earnings and dividends fall below breakeven, and unprofitability is imminent.
Sincerely yours,
Doug Grandt
Global banking giant HSBC has warned investors of the growing risk of their fossil fuelassets becoming useless …
In the report, titled ‘Stranded assets: what next?’, analysts warn of the growing likelihoodthat fossil fuel companies may become “economically non-viable” …
“The speed of the collapse in energy prices over the past three quarters has taken the fossilfuel industry by surprise, in our view,” reads the report. “As rigs are dismantled, capex iscut and operating assets quickly become unprofitable, stranding risks have become muchmore urgent for investors to address, including shorter term investors.”
The paper proposes three options for investors - divesting completely from fossil fuels;
shedding the highest risk investments such as coal and oil; or staying the course andengaging with fossil fuel companies as an investor. The report argues that investors who
stay in fossil fuels “may one day be seen to be late movers, on ‘the wrong side of history’”.
HSBC Warns Clients of Fossil Fuel Investment Risks
8/9/2019 26 Apr 2015 Letter to US Senate Ctee on Energy
http://slidepdf.com/reader/full/26-apr-2015-letter-to-us-senate-ctee-on-energy 19/22
Douglas A. GrandtPO Box 6603
Lincoln, NE 68506 (510) 432-1452
April 26, 2015
Senator Elizabeth Warren317 Hart Senate O!ce Building Washington, D.C. 20510
Re: Oil Refining - Considering future eventualities versus the myopia of the present (letter #9)
Dear Senator Warren,
Since February 15, I’ve written 8 letters expressing concern about depressed petroleum prices.
April 21 Newsweek underscores a serious conundrum that faces you and the other membersof the Senate Committee on Energy and Natural Resourceswhich you should be considering:
With the United States becoming more dependent upon a petroleum industry that is more andmore subject to external demands from equity marketsincreasing earnings and dividends,and share valuehow will We the People wrest control of our destiny from Corporate Interestand establish a truly secure manifestation of an energy policy solely in the Public Interest?
Congressional hearings are warranted to ask the oil & gas industry CEOs if they will continue tosupply fuels when earnings and dividends fall below breakeven, and unprofitability is imminent.
Sincerely yours,
Doug Grandt
Global banking giant HSBC has warned investors of the growing risk of their fossil fuelassets becoming useless …
In the report, titled ‘Stranded assets: what next?’, analysts warn of the growing likelihoodthat fossil fuel companies may become “economically non-viable” …
“The speed of the collapse in energy prices over the past three quarters has taken the fossilfuel industry by surprise, in our view,” reads the report. “As rigs are dismantled, capex iscut and operating assets quickly become unprofitable, stranding risks have become muchmore urgent for investors to address, including shorter term investors.”
The paper proposes three options for investors - divesting completely from fossil fuels;
shedding the highest risk investments such as coal and oil; or staying the course andengaging with fossil fuel companies as an investor. The report argues that investors who
stay in fossil fuels “may one day be seen to be late movers, on ‘the wrong side of history’”.
HSBC Warns Clients of Fossil Fuel Investment Risks
8/9/2019 26 Apr 2015 Letter to US Senate Ctee on Energy
http://slidepdf.com/reader/full/26-apr-2015-letter-to-us-senate-ctee-on-energy 20/22
Douglas A. GrandtPO Box 6603
Lincoln, NE 68506 (510) 432-1452
April 26, 2015
Senator Ron Wyden221 Dirksen Senate O!ce Building Washington, D.C. 20510
Re: Oil Refining - Considering future eventualities versus the myopia of the present (letter #9)
Dear Senator Wyden,
Since February 15, I’ve written 8 letters expressing concern about depressed petroleum prices.
April 21 Newsweek underscores a serious conundrum that faces you and the other membersof the Senate Committee on Energy and Natural Resourceswhich you should be considering:
With the United States becoming more dependent upon a petroleum industry that is more andmore subject to external demands from equity marketsincreasing earnings and dividends,and share valuehow will We the People wrest control of our destiny from Corporate Interestand establish a truly secure manifestation of an energy policy solely in the Public Interest?
Congressional hearings are warranted to ask the oil & gas industry CEOs if they will continue tosupply fuels when earnings and dividends fall below breakeven, and unprofitability is imminent.
Sincerely yours,
Doug Grandt
Global banking giant HSBC has warned investors of the growing risk of their fossil fuelassets becoming useless …
In the report, titled ‘Stranded assets: what next?’, analysts warn of the growing likelihoodthat fossil fuel companies may become “economically non-viable” …
“The speed of the collapse in energy prices over the past three quarters has taken the fossilfuel industry by surprise, in our view,” reads the report. “As rigs are dismantled, capex iscut and operating assets quickly become unprofitable, stranding risks have become muchmore urgent for investors to address, including shorter term investors.”
The paper proposes three options for investors - divesting completely from fossil fuels;
shedding the highest risk investments such as coal and oil; or staying the course andengaging with fossil fuel companies as an investor. The report argues that investors who
stay in fossil fuels “may one day be seen to be late movers, on ‘the wrong side of history’”.
HSBC Warns Clients of Fossil Fuel Investment Risks
8/9/2019 26 Apr 2015 Letter to US Senate Ctee on Energy
http://slidepdf.com/reader/full/26-apr-2015-letter-to-us-senate-ctee-on-energy 21/22
Douglas A. GrandtPO Box 6603
Lincoln, NE 68506 (510) 432-1452
April 26, 2015
Senator Bernie Sanders332 Dirksen Senate O!ce Building Washington, D.C. 20510
Re: Oil Refining - Considering future eventualities versus the myopia of the present (letter #9)
Dear Senator Sanders,
Since February 15, I’ve written 8 letters expressing concern about depressed petroleum prices.
April 21 Newsweek underscores a serious conundrum that faces you and the other membersof the Senate Committee on Energy and Natural Resourceswhich you should be considering:
With the United States becoming more dependent upon a petroleum industry that is more andmore subject to external demands from equity marketsincreasing earnings and dividends,and share valuehow will We the People wrest control of our destiny from Corporate Interestand establish a truly secure manifestation of an energy policy solely in the Public Interest?
Congressional hearings are warranted to ask the oil & gas industry CEOs if they will continue tosupply fuels when earnings and dividends fall below breakeven, and unprofitability is imminent.
Sincerely yours,
Doug Grandt
Global banking giant HSBC has warned investors of the growing risk of their fossil fuelassets becoming useless …
In the report, titled ‘Stranded assets: what next?’, analysts warn of the growing likelihoodthat fossil fuel companies may become “economically non-viable” …
“The speed of the collapse in energy prices over the past three quarters has taken the fossilfuel industry by surprise, in our view,” reads the report. “As rigs are dismantled, capex iscut and operating assets quickly become unprofitable, stranding risks have become muchmore urgent for investors to address, including shorter term investors.”
The paper proposes three options for investors - divesting completely from fossil fuels;
shedding the highest risk investments such as coal and oil; or staying the course andengaging with fossil fuel companies as an investor. The report argues that investors who
stay in fossil fuels “may one day be seen to be late movers, on ‘the wrong side of history’”.
HSBC Warns Clients of Fossil Fuel Investment Risks
8/9/2019 26 Apr 2015 Letter to US Senate Ctee on Energy
http://slidepdf.com/reader/full/26-apr-2015-letter-to-us-senate-ctee-on-energy 22/22
Douglas A. GrandtPO Box 6603
Lincoln, NE 68506 (510) 432-1452
April 26, 2015
Senator Angus King359 Dirksen Senate O!ce Building Washington, D.C. 20510
Re: Oil Refining - Considering future eventualities versus the myopia of the present (letter #9)
Dear Senator King,
Since February 15, I’ve written 8 letters expressing concern about depressed petroleum prices.
April 21 Newsweek underscores a serious conundrum that faces you and the other membersof the Senate Committee on Energy and Natural Resourceswhich you should be considering:
With the United States becoming more dependent upon a petroleum industry that is more andmore subject to external demands from equity marketsincreasing earnings and dividends,and share valuehow will We the People wrest control of our destiny from Corporate Interestand establish a truly secure manifestation of an energy policy solely in the Public Interest?
Congressional hearings are warranted to ask the oil & gas industry CEOs if they will continue tosupply fuels when earnings and dividends fall below breakeven, and unprofitability is imminent.
Sincerely yours,
Doug Grandt
Global banking giant HSBC has warned investors of the growing risk of their fossil fuelassets becoming useless …
In the report, titled ‘Stranded assets: what next?’, analysts warn of the growing likelihoodthat fossil fuel companies may become “economically non-viable” …
“The speed of the collapse in energy prices over the past three quarters has taken the fossilfuel industry by surprise, in our view,” reads the report. “As rigs are dismantled, capex iscut and operating assets quickly become unprofitable, stranding risks have become muchmore urgent for investors to address, including shorter term investors.”
The paper proposes three options for investors - divesting completely from fossil fuels;
shedding the highest risk investments such as coal and oil; or staying the course andengaging with fossil fuel companies as an investor. The report argues that investors who
stay in fossil fuels “may one day be seen to be late movers, on ‘the wrong side of history’”.
HSBC Warns Clients of Fossil Fuel Investment Risks
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