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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html* Q5 k2 k, x& I2 e
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WE ARE PETRO-CANADIANS & `% Z! {$ j$ g1 o# h: g8 o/ V0 z
, a' i: l+ y+ |+ 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."
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WHY SELL NOW?
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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. 3 V9 S. [' V$ X: D/ v/ c& l/ [6 J+ h! v
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6 A P$ i% e$ m- H# @. B& u PIf I was thinking of selling, I'd hold off until 2008 or 2010.
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, C0 B9 H; T2 x/ D/ l$ }4 {# x7 THouse prices, with a few peaks and valleys along the way, will continue to increase.
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& L& r U& [' v& ?" S UWe don't quite get it. 7 o# s$ g2 _! h
8 Z4 y! t, J6 z: lWe're squat in the middle of the greatest industrial boom in the freakin' world! n W" x+ ^# L+ w( V
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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: $3 billion per project.
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Even with huge slowdowns, at least half those projects will happen. The bitumen upgraders in Strathcona and Sturgeon counties are just starting. Nine proposed upgraders are listed on that website. 9 d" F d$ I( j/ x; q) M* p; p
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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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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. # O L7 r6 u ~3 g+ W
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Stricter environmental safeguards will increase the cost of production, but won't severely slow it down.
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! ]3 ?0 M+ {0 Z: |/ fAnd all those skilled tradesfolks, coming with their families, have to live somewhere.
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House prices will go nowhere but up. |
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