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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html
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WE ARE PETRO-CANADIANS
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2 _4 ~1 ]% o( d- p5 ~Due to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks."
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We must now be referred to as "Petro-Canadians."
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WHY SELL NOW?
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6 u' J& J8 Y: X! p7 n1 PIf 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. 9 `. f* W% v* a5 \
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4 z# n$ I( o7 g& {If I was thinking of selling, I'd hold off until 2008 or 2010.
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& _$ _& S7 L# W$ T& hHouse prices, with a few peaks and valleys along the way, will continue to increase.
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We don't quite get it. 6 X+ w3 H/ u A5 m) b
3 G0 B8 o4 s4 N, q% D# aWe're squat in the middle of the greatest industrial boom in the freakin' world! 7 P9 L5 u8 v! i, z7 b1 ]
4 D X$ {: Z3 d2 H! jIn 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. 5 |; L5 b/ v" u: A
: h4 b, ~6 w. `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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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. 4 K( y; v4 K4 a" I' C, b
+ o6 q ?7 B2 ^( V: d' x. BEvery expert in the world says oil prices will not collapse, due to world-wide demand. The price might drop by $10 per barrel, but oil- sand operations can still make a profit at those levels.
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Stricter environmental safeguards will increase the cost of production, but won't severely slow it down. % r. f$ s1 x2 s5 O: ~1 D0 @
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And all those skilled tradesfolks, coming with their families, have to live somewhere.
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9 l! X$ i6 _3 z( s. p+ E' dHouse prices will go nowhere but up. |
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