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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html
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8 _# e u8 O' ~! A* X& KWE 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." i+ _, W# x. A1 W) t7 D7 A+ I
! A8 p+ H) [) S+ A4 v% r; U# rWe must now be referred to as "Petro-Canadians."
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WHY 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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8 H) N+ y/ G& _2 k7 O$ GHouse prices, with a few peaks and valleys along the way, will continue to increase. 2 l+ U U( [$ T! t p
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We don't quite get it. ( L0 N5 }/ k" n
7 N! j! |( o* O( K+ |$ C) vWe're squat in the middle of the greatest industrial boom in the freakin' world! 4 P0 x) ?' @! p2 b. D
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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. % L" h8 R8 q. ]3 o2 Z
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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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8 e5 g/ ^5 d& f& W3 c! m. y# j9 M* vEvery expert in the world says oil prices will not collapse, due to world-wide demand. The price might drop by $10 per barrel, but oil- sand operations can still make a profit at those levels. . n, [+ `5 i* F- e0 Y
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Stricter environmental safeguards will increase the cost of production, but won't severely slow it down. 0 v% l0 R( A. S6 a) ?0 V. W
1 u; T' T" E/ H s" m: y# E$ ]And all those skilled tradesfolks, coming with their families, have to live somewhere. , K; J; ~, n3 C9 S0 r v/ t e
8 l: [& G' Q1 ^9 `( v" wHouse prices will go nowhere but up. |
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