POTOMAC INSIGHT | Why Iran Is More Bearish For Oil Than People Think

 

Here’s a brief excerpt from an institutional call Hedgeye hosted with our new Potomac Research Group teammates – former Energy Secretary Spencer Abraham and Senior Energy analyst Joe McMonigle, co-founders of the Abraham Group, LLC. With the U.S. and E.U. lifting Iranian sanctions, Abraham and McMonigle offer non-consensus insight on what lies ahead for the price of oil.

 

The Honorable Spencer Abraham, Senior Energy Analyst

 

Secretary Spencer Abraham serves as Senior Energy Analyst and is Chairman and CEO of The Abraham Group, an international strategic consulting firm focused on the energy sector and based in Washington, DC.

 

Secretary Abraham served as the tenth Secretary of Energy in United States history from 2001-2005.  He helped President Bush devise America's first national energy plan in over a decade and oversaw its implementation. As part of this plan, he led efforts to broaden America's international energy partnerships as well as forge closer ties to key oil producing nations.

 

Prior to being named a Cabinet Member, Secretary Abraham served as an effective and highly productive U.S. Senator from Michigan for six years, where he was the author of 22 pieces of legislation signed into law. He served on the Judiciary, Budget and Commerce Committees.  In addition, he was chairman of two subcommittees: Manufacturing and Competitiveness, and Immigration.

 

Secretary Abraham is a member of the Board of Directors of Occidental Petroleum, NRG Energy and PBF Energy.  In addition, he is a frequent commentator on FOX News, CNN and Bloomberg TV as well as a periodic contributor of op-ed articles to the Financial Times, The Wall Street Journal, The Washington Post, The Weekly Standard and other publications.

 

Secretary Abraham and his wife, Jane, are the parents of three children. He holds a law degree from Harvard University, where he co-founded the Federalist Society, and is a native of East Lansing, Michigan.

 

Joseph McMonigle, Senior Energy Analyst

 

Joseph McMonigle serves as Senior Energy Analyst and is president and co-founder of The Abraham Group LLC, an international strategic consulting firm focused on the energy sector and based in Washington, D.C.

 

Mr. McMonigle is the former Vice Chairman of the Paris-based International Energy Agency, an international organization of oil consuming countries, whose core mission is to work for stable energy markets and respond with joint measures to meet oil supply emergencies.  He also served concurrently as U.S. Representative to the IEA (2003-2005).

 

In addition, Mr. McMonigle served as Chief of Staff at the U.S. Department of Energy, a cabinet department with a $23 billion budget and over 100,000 federal and contractor employees (2001-2005).  Mr. McMonigle also served as the American co-chair of the U.S.-China Energy Cooperation Working Group and led DOE’s bilateral activities and engagement with China.

 

Before joining the Bush Administration, Mr. McMonigle was the administrative assistant and general counsel to a United States Senator.  He is also an attorney and member of the Energy Bar Association as well as the Pennsylvania and District of Columbia bars.


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