Here is an email: Strategic Synopsis September 21, 2001 10:30 AM ? The presidential address last night confirmed that a major military mobilization is under way and that a long campaign is ahead, extending well beyond Afghanistan. Not surprisingly, the speech did not clarify the timing of the attack. ? The president warned the Taliban that unless it handed over Osama bin Laden and the leaders of his al-Qaeda terrorist network, it would face devastating military action. "They will hand over the terrorists, or they will share in their fate," Bush told the US Congress. So far, the Taliban are refusing to comply. ? As such, U.S. military forces will strike in Afghanistan as soon as a target of opportunity presents itself. As the President himself noted in his speech last night, some of the special forces operations will not be visible to the public, while other steps such as airstrikes will be dramatic and unmistakable. Trying to figure out the precise timing of specific types of strikes is probably impossible at this point. However, we safely state the following: o The President set the stage for a long conflict last night, and equity markets are anticipating significant economic pessimism. Consumer confidence is likely to worsen if additional terrorist attacks are made against U.S. targets. o Our sources indicate that Bush spoke at length with Saudi Crown Prince Abdullah this week, and Abdullah agreed to lower oil prices. No specifics were discussed. Preliminary information suggests that Saudi Arabia is carrying out extra liftings in the second half of September and moving crude cargoes closer to market. o When the initial attack comes against Afghanistan, oil markets will likely see confirmation that no threat to crude oil supply is taking place. But speculation about further strikes against other terrorist-sponsoring states should maintain a degree of uncertainty in the market. o The war against terrorism will eventually have to deal with Iran and Iraq; both are major OPEC producers. Persuading Iran to cooperate is more likely to involve diplomacy than force. Some Administration officials, led by Deputy Defense Secretary Paul Wolfowitz, are pushing for a move against Baghdad. So far, this group has been overruled by advocates of a more cautious approach, who realize that attacking Iraq will seriously undermine Arab support for the US. o Washington also has to be concerned with stability in Pakistan, where much of the population (including senior military and intelligence figures) supports the Taliban. o Terrorist retaliation to the U.S. attacks appears to be likely. Attempts to strike infrastructure targets, including energy facilities both here and overseas, are expected. o On the ground today, heavy fighting is raging in northern Afghanistan as opposition forces attack Taliban troops. The Northern Alliance forces are taking advantage of US pressure on the Taliban to recapture key areas and avenge the recent death of their leader.
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A: Competitive Analysis Update #21- Aftermath of Terrorist Strikes
Q: Mark, Please review the attached form of amendments. I have also prepared the form of amendment for the O&M Agreements, but will hold until you get further information on the fee arrangements. After you review these forms, lets discuss and review where we are at in this whole process. We will need to get TW, Accounting, and Investor review of these as soon as possible.
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A: CSA Amendments
IN: Paul, Here is the new gen as of a couple of weeks ago. I have spoken with all of our contacts at those companies to get the latest information on these facilities. Nick

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OUT: PJM New Generation
IN: This is an email
Jeff, I am headed to Istanbul & the Greek Isles for vacation in late June. I happened to be talking with Rebecca who indicated that you guys had just gotten back from Istanbul for a wedding & that you have a brother that lives there. We will be in Istanbul for only 3 days & want to make the best use of time possible. I think that Rebecca mentioned that you knew of a private guide that we might be able to book for full or half days. I would love to do that & wondered if you might have the name & phone number of the guide. Also, I would love to hear your thoughts on what there is to do & if you have any restaurant recomendations. We are staying at the same hotel that you & Rebecca just stayed at & it will be the first time in Istanbul for both of us. Jeff, thanks in advance for your insight & help!!! Cheryl

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OUT: A trip to Turkey
QUESTION: Jeff, My sister is a Vice President for JPMorgan Chase Bank, and she supervises construction and management of new buildings in Texas. She sent me the following note regarding Enron Energy Services' handling of their utility bills: "On another note: Enron handles the utility bills for JPMorganChase Bank on a national basis, including Texas. We are building a call center in San Antonio, and the City of San Antonio (municipal electric) wants to charge us a $50,000 deposit for new power because 11 out of the last 12 payments made by Enron have been late, and late fees have been paid. I am now going to do an analysis on all of my regions. I would like a local Enron contact, if one exists. Any ideas?" Whom in Enron should I tell her to contact? Thanks,
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ANS: JPMorganChase Bank
IN: Thanks for your card and hello to the whole family. I didn't know you guys were in Mass. Is this a long term move? Things are still pretty much the same in Houston. We'd certainly look forward to seeing more of you down this way!

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OUT:
Happy New Year