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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html
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8 g O) o6 y, i, AWE ARE PETRO-CANADIANS + i0 I4 U; A- W6 ?2 a& X' N
5 P& Y* l! o! U$ ^. p$ RDue to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks."
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We must now be referred to as "Petro-Canadians." * l6 t+ F5 X7 `
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WHY SELL NOW? 7 S) [* u f: a4 z6 ?# b
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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. 4 f& ]# {4 Y: g3 e' `
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* G7 m4 O1 a+ ?$ J9 ?' gIf I was thinking of selling, I'd hold off until 2008 or 2010.
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, O i" V6 Y7 A* ]House prices, with a few peaks and valleys along the way, will continue to increase. # y, x/ j; v0 p) s" t- r X2 D) e v
. R+ }$ s6 M: \+ Y! U& w' D3 \We don't quite get it. + ^ Q0 T) u# s; G' a6 s! ]
' {0 Y: z) V' f9 vWe're squat in the middle of the greatest industrial boom in the freakin' world! 3 c5 b p! k) L* c
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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: $3 billion per project.
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Even with huge slowdowns, at least half those projects will happen. The bitumen upgraders in Strathcona and Sturgeon counties are just starting. Nine proposed upgraders are listed on that website. ) s/ F0 B {6 h: V& z% A4 s
& ~1 V9 L# r! d2 O$ ?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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9 ] T+ p$ p( 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. & V; B: z$ f2 Y7 U1 }
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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. 7 N3 H0 |/ D# a: k9 u
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Stricter environmental safeguards will increase the cost of production, but won't severely slow it down. $ ?. V2 f0 A' K+ ^1 f
; b' Y7 j, i+ p7 M/ E4 v+ Y& O7 eAnd all those skilled tradesfolks, coming with their families, have to live somewhere. $ H+ l) A( n4 u' u& c( U" u3 r
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House prices will go nowhere but up. |
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