From: Douglas Grandt answerthecall@me.comSubject: 2nd Follow-up to my November 4 phone call request

Date: November 11, 2015 at 7:01 AMTo: Edward Hild (Sen. Murkowski) Edward_Hild@murkowski.senate.gov, David Cleary (Sen. Alexander)

David_Cleary@alexander.senate.gov, Dan Kunsman (Sen. Barrasso) Dan_Kunsman@barrasso.senate.gov,Joel Brubaker (Sen. Capito) Joel_Brubaker@capito.senate.gov, James Quinn (Sen. Cassidy) James_Quinn@cassidy.senate.gov,Jason Thielman (Sen. Daines) Jason_Thielman@daines.senate.gov, Chandler Morse (Sen. Flake)Chandler_Morse@flake.senate.gov, Chris Hansen (Sen. Gardner) Chris_Hansen@gardner.senate.gov,Ryan Bernstein (Sen. Hoeven) Ryan_Bernstein@hoeven.senate.gov, Boyd Matheson (Sen. Lee) Boyd_Matheson@lee.senate.gov, Mark Isakowitz (Sen. Portman) Mark_Isakowitz@portman.senate.gov, John Sandy (Sen. Risch) John_Sandy@risch.senate.gov,Travis Lumpkin (Sen. Cantwell) Travis_Lumpkin@cantwell.senate.gov, Jeff Lomonaco (Sen. Franken)Jeff_Lomonaco@franken.senate.gov, Joe Britton (Sen. Heinrich) Joe_Britton@heinrich.senate.gov, Betsy Lin (Sen. Hirono)Betsy_Lin@hirono.senate.gov, Patrick Hayes (Sen. Manchin) Patrick_Hayes@manchin.senate.gov,Bill Sweeney (Sen. Stabenow) Bill_Sweeney@stabenow.senate.gov, Mindy Myers (Sen. Warren)Mindy_Myers@warren.senate.gov, Jeff Michels (Sen. Wyden) Jeff_Michels@wyden.senate.gov,Michaeleen Crowell (Sen. Sanders) Michaeleen_Crowell@sanders.senate.gov, Kay Rand (Sen. King) Kay_Rand@king.senate.gov, Karen Billups (Senate ENR Ctee) Karen_Billups@energy.senate.gov, Angela Becker-Dippmann (Senat ENR Ctee)Angela_Becker-Dippmann@energy.senate.gov, Joe Hack (Sen. Fischer) Joe_Hack@fischer.senate.gov,Derrick Morgan (Sen. Sasse) Derrick_Morgan@sasse.senate.gov

Cc: Jordan Cox (Sen. Fischer) Jordan_Cox@fischer.senate.gov

Dear Chiefs of Staff of the Energy & Natural Resources Committee and the Nebraska delegation,

Please give me the courtesy of a response: Are you or the Senators you work for aware of or concerned about the flood of big red warning flags? To me, the implications and dire consequences of plausible outcomes are unmistakable. Yesterday’s Oil & Gas Journal Daily Update had these three headlines at the top of its page (click the embedded links and take a look at the snapshot of the O&G page below or Bit.ly/OGJdaily10Nov15).

IEA: World oil supply, demand to rebalance by 2020The g loba l o i l market is expected to reba lance a t $80/bb l by 2020, w i th fu r ther increases in pr ice thereaf ter, as excess o i l supp l ies are shed and demand p icks up, accord ing to the cent ra l scenar io o f the In ternat iona l Energy Agency ’s 2015 Wor ld Energy Out look , re leased Nov. 10.

MARKET WATCH: NYMEX December crude direction uncertain on IEA commentOi l fu tures fo r December se t t led be low $44/bb l on the New York market Nov. 9 , wh ich was the lowest s ince Oct . 27 . In ear ly Nov. 10 t rad ing, pr ices swung up and down a f te r the In ternat iona l Energy Agency suggested o i l p r ices cou ld s tay depressed for another 5 years

EIA: US shale oil output to plunge 118,000 b/d in DecemberCrude o i l p roduct ion in December f rom seven major US sha le p lays is expected to drop 118,000 b /d to 4 .95 mi l l ion b /d , accord ing to the US Energy In format ion Admin is t ra t ion ’s la tes t Dr i l l ing Product iv i ty Repor t (DPR) . The agency pro jec ted a 93,000-b /d dec l ine fo r November.

My ask is simple: I am concerned that a sustained low price of oil and gas will cause more and more oil and gas production companies, drilling companies and the broad range of service companies to go out of business. Not only will hundreds of thousands more jobs be eliminated, but the flow of oil and gas will decline for a lack of required replacement of depleted short-lived frack-technology wells.

I believe that a gap between demand and supply will not only cripple the transportation sector, but worse: 1) a panic will ensue as "ma and pa" investors, "day traders" and institutional automated software sense the need to sell before their portfolios disintegrate, and 2) widespread panic within the markets will follow the specific stocks in a downward spiral, worse than the 2002 or 2008 market crashes.

I believe We the People need to understand that Corporate fiduciary duty as the industry profitability wanes — indeed goes negative — will conflict with our desire that they respond in the Public Interest and the National Interest. How will we protect ourselves against a precipitous drop in the supply of gasoline, diesel, fuel oil, propane, natural gas, etc? Such a contraction may well be irreversible.

I believe that the Senate Energy and Natural Resources Committee — being the proponent of two energy bills presently awaiting consideration in the Senate (S. 2011 and S. 2012) — is the right place to conduct hearings wherein oil and gas company CEOs can testify as to the prospects of their facing the dire worst-case scenarios, so Congress can prepare and act appropriately to protect U.S. citizens.

I make this assessment and conclusion as a former Petroleum Engineer and Corporate Planner.

Please raise this ASK to your Senators: Request Chairman Murkowski to call hearings for oil company CEOs.

Sincerely yours,

Doug Grandt