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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html0 l1 U7 ^+ Q' m* V% g5 ^* F! N6 h
# B$ p$ H" ?: t: |WE ARE PETRO-CANADIANS
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7 I4 w! @# n5 b3 mDue to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." # I5 W. l# F6 t# J3 U: m
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We must now be referred to as "Petro-Canadians."
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% g' @; A D8 a3 QWHY 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. . o; @" R" a+ r8 v1 M
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1 K' M* [% T1 o1 n5 Q" }' BIf I was thinking of selling, I'd hold off until 2008 or 2010. $ V7 b/ D1 K, i A
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House prices, with a few peaks and valleys along the way, will continue to increase.
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4 H, d3 W0 [+ A+ x- CWe don't quite get it. / q _6 a! C K) c
9 Z; j1 l# Y8 h1 @3 ]We're squat in the middle of the greatest industrial boom in the freakin' world! ' y) S% c+ R' u9 _
% x0 _8 e& b+ w, Q7 L8 DIn the oilsands, including mining projects and upgraders, the government lists 52 planned projects in its Inventory of Major Alberta Projects website. Average price: $3 billion per project. * I: `# N& T3 u+ x
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Even with huge slowdowns, at least half those projects will happen. The bitumen upgraders in Strathcona and Sturgeon counties are just starting. Nine proposed upgraders are listed on that website.
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Upgraders and big oilsands mining projects each require workforces of 5,000 to 6,000 to build over a two-year period.
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' Q" o! K* r9 k0 M2 X+ @& j" ]( h5 j# pTradesmen will pour into northern Alberta over the foreseeable future. The numbers of expected newcomers range from 3,000 to 10,000 per year, with a multiplier effect all over the region. * ~6 B3 K$ R5 l
+ z& N/ ~5 ^* Y9 [$ s. VEvery expert in the world says oil prices will not collapse, due to world-wide demand. The price might drop by $10 per barrel, but oil- sand operations can still make a profit at those levels.
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4 n4 L; h9 N$ V5 q; C( {Stricter environmental safeguards will increase the cost of production, but won't severely slow it down.
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4 K* C9 N; L K2 l/ q& bAnd 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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