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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html `* {3 `) ^ Q
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WE ARE PETRO-CANADIANS ( Y, v2 h% O p: s% I
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Due to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." + t3 [. m6 W* B2 x i1 q% ^) y
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We must now be referred to as "Petro-Canadians." 6 N# I }: z0 E7 w! Y, _9 C
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WHY SELL NOW?
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6 h. p2 e( |+ n6 Q+ dIf 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. 2 M* ~4 F- o, ?5 X3 j
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; Q, p; d9 C c, QIf 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.
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We don't quite get it. ' E9 u- J7 z) x" M& d
5 R8 }- k! O7 o! z" GWe're squat in the middle of the greatest industrial boom in the freakin' world! 3 ^2 ? {- v8 O+ B
% s+ B; f3 r% XIn 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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2 j9 O5 N/ w, V1 g1 lEven 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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! _1 e1 a6 c3 _% `9 ^2 {! RUpgraders 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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; j( o3 ]2 p# C2 O9 L( xTradesmen 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. " O+ X, l; C, z9 Y/ w* E
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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.
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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 Z( X9 q6 I( T+ O% q2 fAnd all those skilled tradesfolks, coming with their families, have to live somewhere. * |( P. i6 e# X7 k9 b1 S* ?* y
, j! h: N! w% x" d9 s' F+ U! hHouse prices will go nowhere but up. |
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