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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html5 y: {. \+ Y8 M& Z- L" U$ P. h
+ F% F6 P/ Z7 T! AWE ARE PETRO-CANADIANS + n8 A8 N, t/ J7 }' ?
6 l5 d) n' {4 X2 UDue to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks."
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; Y$ z$ ^# _& r4 r% eWe must now be referred to as "Petro-Canadians."
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7 i5 s2 e; l$ r6 X- @5 R: B. }6 nWHY SELL NOW? ! C3 ^1 ]' Y8 l: ?9 _ z1 v
" f- y7 V! w, G% }1 q$ O2 k MIf 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.
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, z3 O3 @# U- H+ R$ xHouse prices, with a few peaks and valleys along the way, will continue to increase.
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; \4 A% [5 t) l; DWe don't quite get it. 3 D. M! Z, w! ~$ M( A5 x
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We're squat in the middle of the greatest industrial boom in the freakin' world! & t! u: B+ X8 s# r
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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- J# }) _' _3 [
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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. , b. ]3 Z% \( x+ A, Q$ ~ F
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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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. ]' {/ D) `& \. T& }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. - j; L5 O9 v( _
" X8 j& q7 n4 w! s! m9 `; D3 @Every expert in the world says oil prices will not collapse, due to world-wide demand. The price might drop by $10 per barrel, but oil- sand operations can still make a profit at those levels.
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1 h+ q! d0 v4 DStricter environmental safeguards will increase the cost of production, but won't severely slow it down. ( a' N8 W( f V5 T3 Z# n2 q5 P6 i2 N- @
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And all those skilled tradesfolks, coming with their families, have to live somewhere.
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; v/ ^, z! w$ J' ~% V$ gHouse prices will go nowhere but up. |
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