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I’d been impressed by President Bush’s political acumen in assembling an
document IMAGES-009-HOUSE_OVERSIGHT_028085.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…ng of February 11, Bush was flanked by Secretary of State Baker, Defense Secretary Cheney and national security adviser Brent Scowcroft. Also there was Colin Powell, a general whom I had got to know well, and to like, over the past few years and who was now head of the joint chie...

Fabrice Aidan
email TEXT-001-HOUSE_OVERSIGHT_030209.txt Jul 11, 2013 House Oversight Committee — Epstein Estate Records (Nov 2025)

…gn or national security policy. There may be some who believe that objectives and strategy are just so 20th century; so Brent Scowcroft-like and so pre-Twitter. There may be some who actually handle affairs of state in ways they would not dream of applying to their personal finan...

Commodities overview
document IMAGES-007-HOUSE_OVERSIGHT_024169.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

… should slow meaningfully. OPEC production cuts of up to 0.5 mbpd are needed in the coming months, and should allow the Brent price to stabilize in the USD 80.5 - 90/bbl range (WTI with a USD 12/bbl discount). But a sideways move in crude oil is not good enough to be long the com...

Fw: EOD Commodities Note - 8 Jan [C]
email TEXT-001-HOUSE_OVERSIGHT_030856.txt Jan 9, 2015 House Oversight Committee — Epstein Estate Records (Nov 2025)

… charter rates are cheaper and thus make the economics of storage look good. The window was again weak with ekofisk and brent offered down a bit. In other news, RTRS cites GCC "sources" saying that there is no chance of OPEC cut even though oil has dipped to 50$...Stateside, we l...

Obama has made no big mistakes in a revolutionary environment, but no victories
document IMAGES-008-HOUSE_OVERSIGHT_025810.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Afpak — a mess Obama has made no big mistakes in a revolutionary environment, but no victories either. No big bets other than surge in Afghan — which we lost; and killing Osama which we won. Obama’s approach is to take no risk, increment into a situation and hedge the position....

* The Gsci Agriculture Index Has Already Reversed Around 80% Of Its Rise In Summer 2012 As Farmers Have Planted A Much Larger Area
document * The GSCI agriculture index has already reversed around 80% of its rise in summer 2012 as farmers have planted a much larger area House Oversight Committee — Epstein Estate Records (Nov 2025)

…h higher future supply. We stay short for now as we think this downtrend has further to go. We are also long gasoil vs. Brent. Global inventories are very low and demand from Asia is picking up

Price objective basis & risk
document IMAGES-003-HOUSE_OVERSIGHT_014882.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

… $80 / share is based on a 5-year outlook which assumes a 5.5x DACF multiple and a commodity deck of $67.50 WTI and $70 Brent to which we add $10/ sh for Liza in offshore Guyana. The multiple is based on a finite timeline to delivery which is supported by core NAV. The risks to...

The J.P. Morgan View: Local forces are dominating
email IMAGES-011-HOUSE_OVERSIGHT_031114.txt Mar 29, 2013 House Oversight Committee — Epstein Estate Records (Nov 2025)

…further impact on EUR, but a ECB rate cut would push it a few cents lower versus the dollar. e Commodities — Stay long Brent and short gasoline. e US stocks continue to gain, with the benchmark S&P500 breaching its all time high level today in a gentle fashion. Bonds are genera...

Eye on the Market | July 11, 2011 J.P Morgan
document IMAGES-011-HOUSE_OVERSIGHT_030810.txt Jul 11, 2011 House Oversight Committee — Epstein Estate Records (Nov 2025)

…announcement of the supply increase. Are IEA members committed to doing it again if oil prices reach their May levels? Brent oil price and timeline of SPR release . USD/bbl [A] May 2: Advisors lay out SPR release plan to Obama 130 [B] May 6: Obama calls Abdullah (S.A.) and Saba...