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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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, ?2 F5 u+ d+ c: y' UDue 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." / E6 z: q8 C. F. f! A
) g5 r. n$ k3 U- Z& TWHY SELL NOW?
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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.
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If I was thinking of selling, I'd hold off until 2008 or 2010.
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" _, v1 S8 n. Z( o7 X! wHouse prices, with a few peaks and valleys along the way, will continue to increase. : K }/ v, c6 _2 u
' Q7 s5 _0 d2 m9 j4 bWe don't quite get it.
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- t# J- G% B+ T2 V" q2 ?We're squat in the middle of the greatest industrial boom in the freakin' world! 5 {. b9 o8 K. G/ P+ S; l2 m
7 f) A' h# ?% m) g6 q) _5 _ cIn the oilsands, including mining projects and upgraders, the government lists 52 planned projects in its Inventory of Major Alberta Projects website. Average price: $3 billion per project.
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! x$ ?( U' t- G& x7 aEven 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. 8 [. r T1 n! G" d7 c
+ \9 x) l! J5 L) T, }- MTradesmen 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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6 v# X: v5 V. S9 i* ^9 WEvery 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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And all those skilled tradesfolks, coming with their families, have to live somewhere. 7 c( @# Z4 U- j- f4 F
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House prices will go nowhere but up. |
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