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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html
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- I' S) T; D+ P' o3 K4 I: f FWE ARE PETRO-CANADIANS + \! k' V$ N7 i# x l) U- b6 i. ?' K
% w9 V& }# w: ?9 z8 G& q- h* dDue to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." # a( j' K( p K. m" K8 ?
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We must now be referred to as "Petro-Canadians."
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e7 ]; C+ ?3 f0 TWHY SELL NOW? 1 [: X X$ s* j: J
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If I didn't own a house in Edmonton, I'd buy right now, with the current 10% dip in prices that have doubled in the past three years. ; p& y) N- w. h: q5 ^2 k" u
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If I was thinking of selling, I'd hold off until 2008 or 2010. 9 w& z/ i( n" \. K. y8 a
, M/ C" p) p: F* }3 @$ GHouse prices, with a few peaks and valleys along the way, will continue to increase.
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We don't quite get it.
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" V p5 r7 w9 d- O8 DWe're squat in the middle of the greatest industrial boom in the freakin' world!
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In the oilsands, including mining projects and upgraders, the government lists 52 planned projects in its Inventory of Major Alberta Projects website. Average price: $3 billion per project.
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5 {" t4 D) p9 d9 ^4 y, v+ [; }+ @Even with huge slowdowns, at least half those projects will happen. The bitumen upgraders in Strathcona and Sturgeon counties are just starting. Nine proposed upgraders are listed on that website.
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Upgraders and big oilsands mining projects each require workforces of 5,000 to 6,000 to build over a two-year period.
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B$ w# h& f5 R2 ?8 ATradesmen will pour into northern Alberta over the foreseeable future. The numbers of expected newcomers range from 3,000 to 10,000 per year, with a multiplier effect all over the region.
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Every expert in the world says oil prices will not collapse, due to world-wide demand. The price might drop by $10 per barrel, but oil- sand operations can still make a profit at those levels. # S6 H* e F: k% B9 r) m
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Stricter environmental safeguards will increase the cost of production, but won't severely slow it down. 5 J1 P8 Z( v! k" }5 Z& y( m
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And all those skilled tradesfolks, coming with their families, have to live somewhere. 8 d. h, _- U5 Z/ C3 }1 K& Y6 g
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House prices will go nowhere but up. |
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