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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html
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& h' j: g! C+ K. e! @: b SWE ARE PETRO-CANADIANS 6 H- P0 E/ P- t0 x' R( P1 s! I0 [9 R
* H" Q) N3 t {7 E3 U1 m( @0 mDue to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." 0 p) _0 {) o+ Q- @. ?
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We must now be referred to as "Petro-Canadians."
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1 z4 @: x/ ^1 T& V4 _$ DWHY SELL NOW?
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2 h R+ N$ p; E' s" bIf 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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# d- h4 ]9 I( e! s& _8 [: aIf I was thinking of selling, I'd hold off until 2008 or 2010.
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House prices, with a few peaks and valleys along the way, will continue to increase.
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2 p( n- B7 }" M7 J4 r fWe don't quite get it.
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; `" L6 v2 i1 i# _$ _We're squat in the middle of the greatest industrial boom in the freakin' world! " S1 d/ N" x* W0 H
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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: $3 billion per project. 7 w0 e. B) P" ?$ N
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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. 5 V* @2 b2 v- J
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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. . S3 U% g! B0 ~% m& A
6 k2 a$ @* N4 h# `5 U _/ 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. 4 p. u' Z. o8 V. y3 f
7 X! N4 z h' j) _7 F& LEvery expert in the world says oil prices will not collapse, due to world-wide demand. The price might drop by $10 per barrel, but oil- sand operations can still make a profit at those levels.
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Stricter environmental safeguards will increase the cost of production, but won't severely slow it down. . T T$ f% J: L
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And all those skilled tradesfolks, coming with their families, have to live somewhere. 9 ~2 u7 n* [% N( {* H
+ P; E2 e: b! i" L- ^+ NHouse prices will go nowhere but up. |
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