From jessica.francisco@lazard.com Fri Dec 13 07:43:41 2024 Return-Path: Received: from CY4PR02CU008.outbound.protection.outlook.com (mail-westcentralusazon11011015.outbound.protection.outlook.com [40.93.199.15]) by extralarge.stanford.edu (8.14.4/8.14.4) with ESMTP id 4BDFhep8024836 for ; Fri, 13 Dec 2024 07:43:40 -0800 ARC-Seal: i=1; a=rsa-sha256; s=arcselector10001; d=microsoft.com; cv=none; b=Q6L6TsBCg09hxxl6lP2pnc2Wd0q6rDcBtKrcjrmpMF4ekVgO4y4aVqqxlrJh9a64w4U+/Mkr6lgo3dzsL0CZaKzM0DUZwb6iy5CrzMIY46PONGY2ZqO/twkGbtOHtr10NgERPzcyyCQ1kn/o7WsWVuphrriucdzCr4yyw3IT0HN0dsDaDv6suOb/O0vvMPL0FJj4R5rVB+bsp5sMMsPHxI1PY1Dduic+k4wtxrDD09jEMniS48A42aDFrXGNO1oqqxeroJwZdwB/Wl/1KikzMvsJ9dqONRnvyCDkwrT4if8YrSBpgou+BJc43+abEzn2OMaeDN/Smkj1BQXwh/dRMA== ARC-Message-Signature: i=1; a=rsa-sha256; c=relaxed/relaxed; d=microsoft.com; s=arcselector10001; h=From:Date:Subject:Message-ID:Content-Type:MIME-Version:X-MS-Exchange-AntiSpam-MessageData-ChunkCount:X-MS-Exchange-AntiSpam-MessageData-0:X-MS-Exchange-AntiSpam-MessageData-1; bh=HFZ6Xd2qHcjaR+p/XXzi0DXLkvLahtX0S5nosKZxOIY=; b=kSFh4hqRXaBhewM5sGyskiRC9ElRHFOdHwps6XAIuEbqEjD0VXP71lGJj7e4dPbjVrMFy2bCpx+gC6YYGFH5mJLYzTJTR8ObjNvI13d0FVDV9xSa+9dsAHpvBm2bpq8/Vu9bR9woRJPO8tBZ9OCLTl8rnxr8gtlOd2SwMEOnb1mqqcYA5EilT2M4fNAMlTABCqWk26SeDLcZ2Ox1FgWft4x1sCbyAzDX0n+jtYcmcysxCTgVpe31fcJSqtq4UoYaW5BJEY7Ag6pTgaCuEISo9KOZl+lnK6rFt+/TsPAWOS+/ud0UrmIsM2ynXcxq5gbaayWO3G6yeNrsqJn+f4/OJw== ARC-Authentication-Results: i=1; mx.microsoft.com 1; spf=pass smtp.mailfrom=lazard.com; dmarc=pass action=none header.from=lazard.com; dkim=pass header.d=lazard.com; arc=none DKIM-Signature: v=1; a=rsa-sha256; c=relaxed/relaxed; d=lazard.com; s=selector1; h=From:Date:Subject:Message-ID:Content-Type:MIME-Version:X-MS-Exchange-SenderADCheck; bh=HFZ6Xd2qHcjaR+p/XXzi0DXLkvLahtX0S5nosKZxOIY=; b=ZGLFTQ7wHdAjFNf9so7X2y5LrIikGundmP7dWj/kj1PZyHjoD75UbP+1BiwodIyWrNNInbavI/76980pG4gAy+zbeF+S02eKU1eTISptXyjOWBd9C53Ki34LHZpqo7a7DszsvUuHjQ6hDhjVWuB2jKJhwtwql1480uW1Bg7WWZg= Received: from DM6PR05MB4460.namprd05.prod.outlook.com (2603:10b6:5:99::10) by CY5PR05MB9142.namprd05.prod.outlook.com (2603:10b6:930:36::21) with Microsoft SMTP Server (version=TLS1_2, cipher=TLS_ECDHE_RSA_WITH_AES_256_GCM_SHA384) id 15.20.8207.23; Fri, 13 Dec 2024 15:42:06 +0000 Received: from DM6PR05MB4460.namprd05.prod.outlook.com ([fe80::a8f7:fe5f:e743:bbc2]) by DM6PR05MB4460.namprd05.prod.outlook.com ([fe80::a8f7:fe5f:e743:bbc2%4]) with mapi id 15.20.8207.017; Fri, 13 Dec 2024 15:42:06 +0000 From: "Francisco, Jessica" To: Bryan Arturo Kendall CC: "Houston, Shannon" , "Nayani, Aziz" , "ph240@extralarge.stanford.edu" Subject: RE: [EXTERNAL]: Request for Permission to Use LCOE Figure in Educational Paper Thread-Topic: [EXTERNAL]: Request for Permission to Use LCOE Figure in Educational Paper Thread-Index: AQHbP5TknTaWry3s3UC+LJFOCzYV/LLKH1TwgBZx6d2AAQPbl4AC1ppQ Date: Fri, 13 Dec 2024 15:42:05 +0000 Jessica Francisco, Director, Global Communications @ Lazard. Approved by Lazard to use / cite our Levelized Cost of Energy + study. ######################################################################### From: Bryan Arturo Kendall Sent: Wednesday, December 11, 2024 3:28 PM To: Francisco, Jessica Cc: Houston, Shannon ; Nayani, Aziz ; ph240@extralarge.stanford.edu Subject: Re: [EXTERNAL]: Request for Permission to Use LCOE Figure in Educational Paper Hi Jessica, Thank you again for being of such help. One last thing, Dr. Laughlin sent me this message to further explain what he needs: "WARNING: The problem with Lazard and its figure is LEGAL. It has to do with protecting Stanford from lawsuits. Thus the copyright conversation must make clear that permission is being requested for use of the image in an INTERNET PUBLICATION in the context of a course run by me. I think in this case that "Jessica" should identied by first and last name, and also title if possible. It has to be established that she has the authority to grant the copyright release. There is a similar problem with the attribution issue. The person granting the permission would need to have authority to grant it and to understand the this to make the documents world-accessable from my server in perpetuity." Although I know who you are and that is why I am reaching out to you, could you state your full name and title in your response? Also, could you mention that your permission is for use of a Lazard figure in an INTERNET PUBLICATION? Thank you so very much, Bryan Kendall ----- Bryan Arturo Kendall (he/him/el) Civil and Environmental Engineering (CEE) Atmosphere and Energy Program (A/E) Stanford University ######################################################################### ________________________________ From: Bryan Arturo Kendall > Sent: Tuesday, December 10, 2024 9:22 PM To: Francisco, Jessica > Cc: Robert B Laughlin >; Houston, Shannon >; Nayani, Aziz > Subject: Re: [EXTERNAL]: Request for Permission to Use LCOE Figure in Educational Paper Hi Jessica, Thank you again for clearing the attached figure given I cite "Lazard's Levelized Cost of Energy Analysis-Version 16.0" correctly and attribute the figure accordingly. I have done so. I have run into another issue. Professor Laughlin maintains that this source is "volatile" and thus unallowed for the following reason: If you click on this reference and go to the 4th page (labeled p. 1) you will see in fine print at the bottom: "No part of this material may be copied, photocopied, or duplicated in any form by any means or redistributed without prior consent of Lazard." This is the problem. I am forbidden by this language from doing what I just did, namely download a copy of the document to a subdirectory of your work with a "downward link", thus "de-volatilizing" it. This is common practice with financial houses. Lazard wants to be the sole source of this document so that it can change its content at any time in the future this might become convenient, or even "disappear" the work altogether. This source is therefore HIGHLY volatile and disallowed as a reference in PH240." As was approved with the figure above, could you also approve the download and copy of this document "Lazard's Levelized Cost of Energy Analysis-Version 16.0," to a subdirectory of my work with a "download link", thus "de-volatilizing" it? Proper attribution and citation is of utmost importance and will be done in the following format: [4] "Lazard's Levelized Cost of Energy Analysis-Version 16.0>," Lazard, April 2023. Fig. 1. Levelized Cost of Energy Comparison - Sensitivity to U.S. Federal T= ax Subsidies. [4] (Courtesy of the Lazard) This paper is due by the end of the week, December 13th, so if you could do this ASAP I would really appreciate it. I stand by the fact that my report would not be complete without the inclus= ion of Lazard's wonderful figure and report. With continued appreciation, Bryan Kendall ----- Bryan Arturo Kendall (he/him/el) Civil and Environmental Engineering (CEE) Atmosphere and Energy Program (A/E) Stanford University ----- ########################################################################## ________________________________ From: Francisco, Jessica > Sent: Tuesday, November 26, 2024 2:05 PM To: Bryan Arturo Kendall >; Houston, Shannon >; Nayani, Aziz > Cc: Robert B Laughlin > Subject: RE: [EXTERNAL]: Request for Permission to Use LCOE Figure in Educa= tional Paper Thanks Bryan. This is approved provided you properly cite Lazard's Levelized Cost of Energy+report in your paper. Jessica ######################################################################### From: Bryan Arturo Kendall > Sent: Monday, November 25, 2024 6:53 PM To: Houston, Shannon >; Francisco, Jessica >; Nayani, Aziz > Cc: Robert B Laughlin > Subject: [EXTERNAL]: Request for Permission to Use LCOE Figure in Education= al Paper Dear Lazard Media Team, My name is Bryan Kendall, and I am a graduate student at Stanford University currently enrolled in Introduction to the Physics of Energy (PH240), taught by Professor Robert B. Laughlin. As part of this course, I am preparing a paper that will be published online alongside other student work at Stanford's course repository. I would like to request permission to use the "Levelized Cost of Energy Comparison-Sensitivity to U.S. Federal Tax Subsidies" figure from Lazard's Levelized Cost of Energy Analysis-Version 16.0, April 2023, page 3. This figure is integral to my paper of the economics of renewable and conventional energy sources, and I will appropriately attribute the source in my paper. In my short paper I highlight how subsidies for fossil fuels pale in comparison to that of renewables in the US, and thus are often not included in contemporary LCOE analysis. I intend to reference the following specific data points: * 12% ($24.5 Billion) of total federal energy subsidies from 2016-2022 have supported fossil fuel-derived energy supply, in contrast to 46% ($83.8 Billion) to support renewables, from the U.S. Energy Information Administration report, Federal Financial Interventions and Subsidies in Energy in Fiscal Years 2016-2022. The use of the Lazard figure is strictly for educational purposes as part of my coursework. The paper is due on December 13, 2024, and will be published on the course repository linked above. If required, I would be happy to provide additional context or comply with any specific attribution guidelines you may have. Thank you for considering my request. Please let me know if there are any steps I need to follow or if you require further information. Bests, BK ----- Bryan Arturo Kendall (he/him/el) Civil and Environmental Engineering (CEE) Atmosphere and Energy Program (A/E) Stanford University -----