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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html
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WE ARE PETRO-CANADIANS 3 `; ]/ P/ M1 y" g; w1 \
) X# v1 {6 n8 b/ |6 Q/ b$ mDue to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks."
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3 k0 v* u( ]( A) W3 R1 O4 PWe must now be referred to as "Petro-Canadians." 7 u8 X3 F- q7 U6 F4 _6 ~
; q: |/ v) x2 R7 d: sWHY SELL NOW? 0 w9 q' o# [! j3 z( U
) R3 w5 n- r9 F1 v: NIf 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.
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' R9 y8 x! H, PIf I was thinking of selling, I'd hold off until 2008 or 2010. ' v: e$ s7 E" ]% D9 ~; O( y
9 W$ A# s& _: R* R1 HHouse prices, with a few peaks and valleys along the way, will continue to increase. 2 `8 q4 y/ g' j+ A* c
" x. Q. `7 H3 f# n# s. _# x. wWe don't quite get it. 5 |) L/ P' x9 Q6 |5 H. q
- I4 z' X4 c, e8 [We'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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# v& V4 ?4 D. v5 Q& IEven 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. 2 h, m6 k3 p* T% J# @1 l
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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. 9 V+ d3 ]5 S: f8 {. n+ C
( @& f( ~( v6 a. V, t& L( _Tradesmen 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.
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7 Y. r7 {% s/ V; k9 O2 X3 U' [/ Z8 sStricter environmental safeguards will increase the cost of production, but won't severely slow it down.
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And all those skilled tradesfolks, coming with their families, have to live somewhere.
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; z1 d9 Z; S8 Y) yHouse prices will go nowhere but up. |
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