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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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) x& K4 G/ i" q, f. }, i* l0 ODue to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." % J* y+ N1 v3 h" ?8 A7 ~
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We must now be referred to as "Petro-Canadians." $ k; ?& A' F) s
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WHY SELL NOW? 5 [# i) q; _& M4 Q% t/ y
5 F" B9 p9 C0 N' \. hIf 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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% M Q/ t2 r3 `; y f! DIf I was thinking of selling, I'd hold off until 2008 or 2010. - R9 y& v1 W# w4 ^7 Q8 j
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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. + _9 n& m, O6 ]2 e. ~+ v( W
, b3 K& k4 O8 r7 D) w/ _We're squat in the middle of the greatest industrial boom in the freakin' world!
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+ w) J% b$ Q b( B2 }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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+ q7 e0 N( t/ v7 B1 pEven 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. 7 F* d& L3 `; O/ Q
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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.
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3 I: p' R* N! }# Y3 G" vEvery 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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- a% W8 C" }0 \0 c" f9 I& x# pStricter environmental safeguards will increase the cost of production, but won't severely slow it down. : ?* `( ]' \2 v! d( m& ~* x% T
$ D `9 `* M1 s) x1 x! _5 D ^And all those skilled tradesfolks, coming with their families, have to live somewhere. 5 _ z# P; a% q2 X `
7 A9 z/ x/ E! Y: N2 p$ ~! H( Q- wHouse prices will go nowhere but up. |
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