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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html, K" |0 R7 C2 n- E- _
- M3 R Z' c4 a8 P% ^1 ]# CWE ARE PETRO-CANADIANS
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Due to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." / D1 Q. f3 m$ { j# j
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We must now be referred to as "Petro-Canadians." ) i ?$ m" k2 U" k* d7 L9 X0 Y
9 t5 E$ B, X4 [) r2 P, R# b+ m& EWHY SELL NOW?
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9 @: Z4 e+ w4 |5 Q0 y! j3 ?: 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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If I was thinking of selling, I'd hold off until 2008 or 2010. 0 S; ~/ q( `* Q" w1 d
% Z- L7 t# Z! a0 uHouse prices, with a few peaks and valleys along the way, will continue to increase. ' D8 v% \7 Z' |. J2 D' d
1 j$ b9 m+ L6 X( n0 h G: _We don't quite get it.
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We're squat in the middle of the greatest industrial boom in the freakin' world! * D$ i8 j9 t" I' 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. # D* F& g8 ?# m
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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. + y* k- ]: i1 n r. G
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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. " I) n6 ^/ u( A% q+ X2 X/ G, X
) ~3 { y5 N8 n/ O7 ]3 ?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. # L" o/ L1 a& ~
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Stricter 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. - K5 O& S, G3 o2 f6 B
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House prices will go nowhere but up. |
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