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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html. E* U% L' L* K# X% k$ \
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WE ARE PETRO-CANADIANS
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8 \7 a# D- ^9 @0 C) _: ^2 X; K, g" FDue 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." # e* Y8 i& G2 s# r5 Y0 ]
, Y" Y% C7 |* b c" p7 vWHY SELL NOW?
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( u) o) e2 v% K NIf 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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House prices, with a few peaks and valleys along the way, will continue to increase. 2 v, [' Y5 e; [
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We don't quite get it.
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' Q' s1 o& b$ f7 M: DWe're squat in the middle of the greatest industrial boom in the freakin' world!
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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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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. 7 d& ^/ l# J! t# s1 |
$ U0 E" \6 r( }" Q" qTradesmen 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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Every expert in the world says oil prices will not collapse, due to world-wide demand. The price might drop by $10 per barrel, but oil- sand operations can still make a profit at those levels. % k# ]% f; S1 P. e6 l; A
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Stricter environmental safeguards will increase the cost of production, but won't severely slow it down.
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7 y1 |$ Q' a% u, s# Q9 z& `: oAnd 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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