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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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Due to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." $ G: o8 _2 V9 L" O; `* P7 N/ |7 _+ ^
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We must now be referred to as "Petro-Canadians." " a% E5 L3 V4 w3 X* o
d, @7 w7 b; X4 X4 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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8 P/ W! r3 X) p' nIf I was thinking of selling, I'd hold off until 2008 or 2010. J2 v% C9 q/ k
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House prices, with a few peaks and valleys along the way, will continue to increase. 2 o1 ]# b: A. B
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We don't quite get it. ; e; b) y$ ~5 j+ Z
4 ^" R; J3 Z5 _2 eWe're squat in the middle of the greatest industrial boom in the freakin' world! 4 R. A+ w- ~' A: Y, x! Y1 o6 y0 n
: z: ~3 K7 [# YIn the oilsands, including mining projects and upgraders, the government lists 52 planned projects in its Inventory of Major Alberta Projects website. Average price: $3 billion per project. : U _9 t7 S! C: v- H" z; I8 d5 m
7 W+ V2 }! O/ s' [% v( b aEven with huge slowdowns, at least half those projects will happen. The bitumen upgraders in Strathcona and Sturgeon counties are just starting. Nine proposed upgraders are listed on that website. ; p g7 D. R$ L# Q5 h" c
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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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6 F/ K# m2 ?3 P. N( HTradesmen 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.
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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. * p' g1 ?0 D8 u
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House prices will go nowhere but up. |
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