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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html( S4 J6 {+ e4 k
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WE ARE PETRO-CANADIANS
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: O3 d1 k) x+ u/ Y- G7 HDue to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." # ]3 r( E6 o8 i% c6 n$ P# { z5 s
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We must now be referred to as "Petro-Canadians." # e6 j8 q/ U1 u L
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WHY SELL NOW?
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J; a- S7 R' y( o! c4 r1 IIf 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. 7 X5 `* u8 O& |- S5 r5 L3 `
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If 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. 9 _6 U8 A- H/ a J# R$ z9 P
5 u8 O* y) K4 T8 i! P. YWe don't quite get it.
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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: $3 billion per project. " ^: G/ k. X `+ m3 T3 [, {
; q% w4 z% H: V2 K1 C7 I$ X# EEven 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. $ s; y# Q1 W& R
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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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# T' H7 L; o9 r' D% ]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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Stricter environmental safeguards will increase the cost of production, but won't severely slow it down.
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& S) V N5 V" n( [6 R: ?And 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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