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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html; q0 _, ~8 {% r) B" `! c: R& l
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WE ARE PETRO-CANADIANS 3 Q" F+ n0 n/ O/ K @ v
0 _; v. b! @# c# J2 U# R& |Due to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks."
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4 p' ?* A# d T- N6 k% iWe must now be referred to as "Petro-Canadians." ; l7 v B7 i7 [
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WHY SELL NOW? ) C4 Z: E0 x [( I
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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. * d* T* ]! ]) N _/ `5 w
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6 b2 i' t8 m. v# y& v0 n0 I+ }If I was thinking of selling, I'd hold off until 2008 or 2010. ( w2 A5 y5 C4 r- @
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House prices, with a few peaks and valleys along the way, will continue to increase. 1 m1 q: X* Y9 h7 f5 E. m" t
7 o% K' g/ t- f k% mWe don't quite get it.
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We're squat in the middle of the greatest industrial boom in the freakin' world! * A7 _% A+ o# G' m3 B( e [" a* G
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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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" f* ?8 A5 A/ Q% i. b- k. FUpgraders and big oilsands mining projects each require workforces of 5,000 to 6,000 to build over a two-year period. + _( L% S) S2 @( X
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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.
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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. + X; T% W. l7 s7 N* n5 `0 C
5 \! D, m( M8 H A& L1 |Stricter environmental safeguards will increase the cost of production, but won't severely slow it down.
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( q% _: c% P* |( q2 f3 L, w! aAnd 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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