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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."
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We must now be referred to as "Petro-Canadians." # A: s9 N& u O* W7 b
7 G R0 A( A1 M( VWHY SELL NOW? 1 B7 {6 U. S" a7 ^) m
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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. ; n; a5 H" u$ u+ X7 g* p
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If 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. 3 g8 s3 r2 [/ H! F7 r9 m( j
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We don't quite get it.
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" Y$ n. s/ |: e |5 xWe're squat in the middle of the greatest industrial boom in the freakin' world! 3 L, A2 K5 Z! G8 x6 X
& s6 e5 s+ W6 k2 s% dIn the oilsands, including mining projects and upgraders, the government lists 52 planned projects in its Inventory of Major Alberta Projects website. Average price: $3 billion per project. * l6 c+ v6 Z& s: ?1 P0 e) h% }+ ~
3 _5 ?0 B3 [3 j) U: y3 ZEven with huge slowdowns, at least half those projects will happen. The bitumen upgraders in Strathcona and Sturgeon counties are just starting. Nine proposed upgraders are listed on that website. ; ]" _! g/ N" D9 q, r( J0 y
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Upgraders and big oilsands mining projects each require workforces of 5,000 to 6,000 to build over a two-year period. ; v# B1 a$ ?* N% @8 T- i
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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. / `. b- H$ K$ N) X Z& D: m
W5 s( y: Y3 y$ B2 R6 d; m& }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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6 `( N* J; f# [2 dAnd 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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