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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html
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WE ARE PETRO-CANADIANS 2 V* n' z/ Y0 |4 B, _. r- `
! U* A7 D3 w3 }. C2 eDue to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks."
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. B# y4 x" t4 s' D/ H) }We must now be referred to as "Petro-Canadians."
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WHY SELL NOW? / q: l G# a9 v- J
/ y+ T# x+ ]; v4 @+ ]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.
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. q% e6 G+ W4 n: U6 d5 OIf I was thinking of selling, I'd hold off until 2008 or 2010.
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& E4 H; V4 R7 O7 M' I* f4 ?* sHouse prices, with a few peaks and valleys along the way, will continue to increase.
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We don't quite get it.
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8 f( a M8 w+ {# |7 ~# YWe're squat in the middle of the greatest industrial boom in the freakin' world! 7 A' \0 Q+ ]7 j- q+ I# Y& j/ `4 ^7 s
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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: $3 billion per project.
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7 j/ X9 _4 ]5 P; ?1 p' HEven with huge slowdowns, at least half those projects will happen. The bitumen upgraders in Strathcona and Sturgeon counties are just starting. Nine proposed upgraders are listed on that website. / k' C/ ?# }) Z
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Upgraders and big oilsands mining projects each require workforces of 5,000 to 6,000 to build over a two-year period. ( d- X5 {) d8 R# l* P; b
* L# w K7 ^. Y H! kTradesmen will pour into northern Alberta over the foreseeable future. The numbers of expected newcomers range from 3,000 to 10,000 per year, with a multiplier effect all over the region.
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, s# u/ _4 v$ r [, WEvery expert in the world says oil prices will not collapse, due to world-wide demand. The price might drop by $10 per barrel, but oil- sand operations can still make a profit at those levels. 7 n) Z( N m7 Y1 ~" k" r) a9 Z+ k& A4 Z
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Stricter environmental safeguards will increase the cost of production, but won't severely slow it down. + q- R& X) ~- [$ Q
& d! u# K; x! PAnd 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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