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Can Trump stop the oil war? It would mean a ‘180’ on his distaste for OPEC – Yahoo Canada Finance

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US President Donald Trump speaks during the daily briefing on the novel coronavirus, COVID-19, in the Brady Briefing Room at the White House on March 25, 2020, in Washington, DC. (Photo by MANDEL NGAN / AFP) (Photo by MANDEL NGAN/AFP via Getty Images)

U.S. President Donald Trump is in a tough spot if he intends to broker peace in the raging oil price war that has delivered a gut-punch to North American producers and compounded the impact of the COVID-19 virus. 

Doing so would mean walking back his hatred of OPEC, and his long-held preference for cheap oil, according to one analyst. Trump’s intervention to support prices, if successful, would also have the dual effects of pushing gasoline prices higher as the U.S. economy sits on the brink of recession, while also winning political support in energy-dependent regions in an election year if prices rise.  

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="“It’s a really interesting challenge for him,” said Helima Croft, RBC Capital Markets’ managing director and global head of commodity strategy, on the bank’s podcast.&nbsp;” data-reactid=”25″>“It’s a really interesting challenge for him,” said Helima Croft, RBC Capital Markets’ managing director and global head of commodity strategy, on the bank’s podcast

“He essentially has to do a 180 and appeal to the Saudis to play the regulator role, to work with the other sovereign producers to cut production to shore up U.S. oil producers. It’s not an easy balance.”

Trump has been a vocal critic of OPEC’s role in regulating output. He has lashed out in tweets predating his presidency, accusing the group of “ripping us off” and branding it a “monopoly.”

More recently, he has encouraged Saudi Arabia to keep the market well supplied, and touted low gasoline prices as a signature achievement of his presidency.

“It’s interesting to think about what leverage the U.S. has when the administration has spent three years being highly critical of [OPEC] playing the role of the central banker of oil,” Croft said.

On a recent trip to Western Pennsylvania, Trump celebrated the oil and gas boom in the region, calling the resources under his feet “our gold.”

Last week, Trump said he would intervene in the price war at “the appropriate time,” adding the downturn “hurts a great industry, and a very powerful industry.” He also noted that low gas prices are helpful to consumers. 

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Trump recently ordered U.S energy officials to purchase “large amounts” of oil to top up the nation’s emergency reserve and absorb some of the glut in crude markets. The plan, backed by oil industry lobbyists, was quashed on Thursday when the U.S. Department of Energy said it lacked funding from Congress.” data-reactid=”32″>Trump recently ordered U.S energy officials to purchase “large amounts” of oil to top up the nation’s emergency reserve and absorb some of the glut in crude markets. The plan, backed by oil industry lobbyists, was quashed on Thursday when the U.S. Department of Energy said it lacked funding from Congress.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="North American benchmark West Texas Intermediate (WTI)(CL=F) fell about four per cent on Thursday morning after showing signs of strength on Wednesday. The price of WTI has declined about 60 per cent year-to-date, falling well below the break-even price for nearly all North American producers.” data-reactid=”33″>North American benchmark West Texas Intermediate (WTI)(CL=F) fell about four per cent on Thursday morning after showing signs of strength on Wednesday. The price of WTI has declined about 60 per cent year-to-date, falling well below the break-even price for nearly all North American producers.

On Tuesday, G7 leaders appealed to oil producing countries to “support international efforts to promote global economic stability.”

The spat between Saudi Arabia and Russia started at the March 5 OPEC meeting in Vienna. Russia balked at a plan to restrain production to stabilize the global crude market in response to COVID-19. Saudi Arabia promptly responded by slashing its official selling prices for April deliveries to between US$6 and US$8 per barrel. With the previously agreed upon OPEC production cuts expiring at the end of March, Saudi Arabia and Russia can theoretically pump as much as they want.

Croft said while Saudi Arabia’s actions were likely designed to force Russia back the table, the June OPEC meeting is probably the earliest point at which the two sides could bury the hatchet. She said Russia is probably betting the Kingdom cannot sustain such low prices for long.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Jeff Lagerquist is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jefflagerquist.” data-reactid=”37″>Jeff Lagerquist is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jefflagerquist.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Download the Yahoo Finance app, available for&nbsp;Apple&nbsp;and&nbsp;Android.” data-reactid=”38″>Download the Yahoo Finance app, available for Apple and Android.

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Job Search Success Is Not Complicated

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News Media Canada

Most people over-complicate the process of achieving success.

Achieving success is often perceived as a complex puzzle, or according to those who play the ‘I’m a victim!’ card, only available to those who are supposedly privileged. The fact is there’s a simple equation for achieving success, which Zig Ziglar famously encapsulated, “You can have everything in life you want if you will just help other people get what they want.”

Side note: “all you want” should be interpreted as “all you need.”

I recommend considering the hiring process from the employer’s perspective. By doing so, you’ll empathize with employers and understand positioning yourself as a candidate who has the skills, experience, and proven track record of helping employers get what they want is a job search strategy that’ll set you apart from your competition, who aren’t approaching their job search with an “I want to help employers” mindset as they have the all-too-common “I want!” mindset.

Success isn’t a complicated journey. With the right mindset, it’s a simple path—help others achieve what they want. However, the mindset I come across most often is the exact opposite; job seekers focused on what they want, as opposed to what employers want, resulting in employers being turned off. Who isn’t turned off by someone solely concerned with their needs and wants, who comes across as “predatory”?

Most job seekers: “Employers need to understand my issues and needs.”

Savvy job seekers: “I need to understand the employer’s issues and needs.”

Job seekers who have their thinking clean and show employers how they can help them achieve what they want are few and far between. Being that rare candidate makes you unique and highly valuable, which is a significant competitive advantage. I can guarantee that your interviewer almost never encounters a candidate who projects an “I’m here to help you” aura.

When viewed holistically, employers want five things:

  • be profitable
  • reduce/control costs
  • have low employee turnover
  • optimize employee performance
  • provide a customer experience that’s evangelized

 

How can you help an employer achieve any of, or a combination of, the above?

What’s your employee value proposition?

For instance, you can never go wrong assuming the employer wants to be profitable; hence, suggesting cost-saving measures or revenue-generating ideas during your interview will demonstrate your desire to help the company get what it wants, which is to be profitable.

Imagine yourself as a hiring manager. One of your standard interview questions is: “How will you contribute to the company’s success?” or, more directly, “Why should I hire you?”

 

Candidate A:

 

“If hired, I will bring enthusiasm, dedication, and hard work to the team. I am a fast learner and have a strong work ethic. I am also a team player.”

 

Candidate B:

 

“I bring over 15 years of technical expertise, problem-solving skills, and a commitment to innovation. As head of Gekko’s IT, I led a project to streamline its data analysis processes, increasing efficiency by 20% and reducing employee hours. I achieved this by implementing Cyberdyne Systems’ latest data visualization tools and automating repetitive tasks. I plan to bring this kind of efficiency oversight to Soylent Corporation.”

 

Which candidate would you lean towards hiring?

 

Candidate A offers nothing more than their unsubstantiated opinions, which, as I’ve stated in previous columns, employers don’t hire; they hire results. Opinions about yourself, which you should rarely give without quantifying, don’t help your interviewer envision how you’ll help the company get what it wants.

 

On the other hand, candidate B outlined how they can help the company achieve wanting to optimize employee performance and cost savings. Candidate B thinks like an employer and understands employers are a sucker for candidates with a track record of helping employers get what they want.

 

Getting hired doesn’t come down to having the shiniest resume, with all the right keywords, being impeccably dressed, having a perfect smile, or sheer luck. Employers hire candidates they feel will get them what they want.

 

Consider all the successes around you and why they exist.

 

  • Amazon: Shopping delivered to your door.
  • Apple iPhone: Handheld communication.
  • Facebook: Having a voice. Keeping in touch.
  • Starbucks: Coffee served around an experience.
  • Taylor Swift: Music young people in angst can relate to.
  • MasterCard: Easy to use credit.
  • Zig Ziglar: Motivation and encouragement.

 

The success of the above can be attributed to the fact that they’ve designed their offering with the end-user in mind, helping people get what they want.

 

  • Amazon: Convenience
  • Apple iPhone: Connectivity
  • Facebook: Popularity
  • Starbucks: Self-care
  • Taylor Swift: Understanding
  • MasterCard: Lifestyle
  • Zig Ziglar: Hope

 

All successful businesses are based on selling a product or service that’ll help people (read: consumers) get what they want, which is usually intrinsic. A product or service must satisfy a need or want in order to sell. The same applies to job searching. You must fulfill an employer’s need or want. Think of employers as the end users of your services; how do you help employers achieve what they want? Are you communicating your how and willingness to help throughout your job search?

Showing how you can help employers get what they want is how you achieve job search success.

_____________________________________________________________________

 

Nick Kossovan, a well-seasoned veteran of the corporate landscape, offers “unsweetened” job search advice. You can send Nick your questions to artoffindingwork@gmail.com.

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Mergers and acquisitions to pick up in 2025 as conditions ease: KPMG

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KPMG says nine in 10 Canadian CEOs are considering making an acquisition within the next three years to help boost their company’s growth.

A pair of surveys by the firm released Monday show four in 10 Canadian CEOs are planning major deals, while nearly three quarters of small- and medium-sized businesses are considering acquisitions.

KPMG says Canadian chief executives see mergers and acquisitions as their second-most important growth strategy in the next three years, behind organic growth.

Meanwhile, smaller businesses rely less on these deals as a top growth strategy, but many are still planning to make acquisitions in the coming years, and four per cent are seeking to be acquired.

John Cho, national leader for KPMG in Canada’s deal advisory practice, says recent interest rate cuts by Canadian and U.S. central banks, plus lower inflation, are “breathing life” back into the merger and acquisition market.

He says with more confidence in the air, 2025 could be one of the busiest years in quite some time for mergers and acquisitions.

This report by The Canadian Press was first published Oct. 7, 2024.

The Canadian Press. All rights reserved.

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Coeur Mining signs all-stock deal to buy SilverCrest Metals valued at US$1.7B

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VANCOUVER – Coeur Mining Inc. has signed a deal to buy SilverCrest Metals Inc. that values the company at about US$1.7 billion.

Under the agreement, SilverCrest shareholders will receive 1.6022 Coeur common shares for each SilverCrest common share they hold.

The proposal values SilverCrest shares at US$11.34 per share, based on the closing price of Coeur common shares on the New York Stock Exchange on Thursday. The offer is a 22 per cent premium to where SilverCrest shares closed before the deal was announced.

Vancouver-based SilverCrest owns the Las Chispas operation in Sonora, Mexico.

Coeur shareholders will hold a 63 per cent stake in the combined company, while SilverCrest shareholders will own 37 per cent.

The deal, which requires shareholder, court and regulatory approvals, is expected to close late in the first quarter of 2025.

This report by The Canadian Press was first published Oct. 4, 2024.

Companies in this story: (TSX:SIL)

The Canadian Press. All rights reserved.

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