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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html8 P$ H6 F9 D5 A" W. M
; C5 N, I/ S7 B, P l. ^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." + Q8 `0 W8 O* u. j3 \) R0 W% O
3 S3 ~( |. O5 \( a' y: 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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' x- [1 z; B* }; iIf I was thinking of selling, I'd hold off until 2008 or 2010. 5 S# B: y5 W* N4 b/ h( r
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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.
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We're squat in the middle of the greatest industrial boom in the freakin' world!
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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: $3 billion per project. 4 G$ ^ F. Z4 a; o! Q. k
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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.
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( Y+ d0 {0 d) I: pUpgraders and big oilsands mining projects each require workforces of 5,000 to 6,000 to build over a two-year period. / y7 J! s7 R! C/ H% `. R: O3 _8 K2 X7 z. V
/ Y9 O) r* Z7 E" S; |( oTradesmen 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. 8 i- _6 I m. v3 o% c G3 q
) K' ~ F" m* d0 u3 ?& w- qEvery expert in the world says oil prices will not collapse, due to world-wide demand. The price might drop by $10 per barrel, but oil- sand operations can still make a profit at those levels.
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v P7 O7 Q6 ]8 T9 mStricter environmental safeguards will increase the cost of production, but won't severely slow it down.
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$ {# R3 a1 X4 l+ ]And 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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