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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html
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! g! s9 l. t- M6 pWE ARE PETRO-CANADIANS ; q3 C. Z' s: V' Q: R- i
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Due to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." 5 ~1 H* y- R: Q* t4 r2 O
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We must now be referred to as "Petro-Canadians." ! `4 Z2 @" `+ G; |2 P9 f
1 x3 o1 f: O0 j1 OWHY SELL NOW? , p& [# H( K/ G+ ^5 n2 v& S# q
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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. ; h' j/ t+ F- L9 G; A9 w
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If I was thinking of selling, I'd hold off until 2008 or 2010.
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* |1 W9 `# n+ _% \House prices, with a few peaks and valleys along the way, will continue to increase. g3 S$ _/ p' @
. d5 q( q- N7 O; f3 L K( NWe don't quite get it. ! H9 S7 A, `( O! E' B
9 z, g9 v) C# d+ q$ c+ wWe're squat in the middle of the greatest industrial boom in the freakin' world! . h% B$ i o+ @- ^. Z9 k3 e
) s9 H5 i$ F: r2 T( v6 EIn 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. # h5 ^) z8 v! c
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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. " k ^ l+ y6 l- [, g& Y" v% B
( Q0 ^* y/ T, p9 ~% VUpgraders and big oilsands mining projects each require workforces of 5,000 to 6,000 to build over a two-year period. 2 N3 h! U; c2 k1 E3 V
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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. ( }, c! ~2 ]6 q5 ^) k& a
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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 $10 per barrel, but oil- sand operations can still make a profit at those levels. ' b8 ?0 J. c4 f! M' y$ s
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Stricter environmental safeguards will increase the cost of production, but won't severely slow it down.
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* B/ \- F1 o9 m: G6 _$ z9 @3 MAnd all those skilled tradesfolks, coming with their families, have to live somewhere. 2 ]. b; A5 j# I y7 _7 w1 B4 u: \ n' M$ i
5 `, [# S8 m1 j, R0 x* hHouse prices will go nowhere but up. |
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