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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html& ^& K% v- W/ K+ f1 W$ H$ C; @
: b* y" j6 E* ~! ~WE ARE PETRO-CANADIANS
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1 P# a# r4 c8 e# |Due to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks."
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" F# ~; ^' d9 J2 F" ^% m9 j6 Z, {1 [We must now be referred to as "Petro-Canadians."
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- F# @2 E6 `- f8 rWHY SELL NOW?
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1 m0 z( Q' V! [; ZIf 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. 3 X3 S* d& ^7 v+ O% M" u- |, I
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) e$ D, K- O4 S" p; IIf I was thinking of selling, I'd hold off until 2008 or 2010. 7 L5 n: b0 V2 Y8 ~& U: I, h* c
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House prices, with a few peaks and valleys along the way, will continue to increase. & E3 ?5 j& X( C& C$ X- @
4 f# Y7 R$ u; H# E+ `. D7 oWe don't quite get it.
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We're squat in the middle of the greatest industrial boom in the freakin' world! * O7 y; W6 l- Y* Y( ?7 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: $3 billion per project. / Z: k! \% i. y
) @9 j d" O" E, H, f: VEven with huge slowdowns, at least half those projects will happen. The bitumen upgraders in Strathcona and Sturgeon counties are just starting. Nine proposed upgraders are listed on that website. - | ] D$ S; I Y: q9 @' F
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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. - W- z! O0 n3 p N* s6 e; F& P# _; H
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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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: c! n& v# D8 P; I R6 v5 UEvery expert in the world says oil prices will not collapse, due to world-wide demand. The price might drop by $10 per barrel, but oil- sand operations can still make a profit at those levels.
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( l$ U) b, K' c- ]( d4 I& i& z* bStricter 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.
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8 b' C7 \4 A/ o& sHouse prices will go nowhere but up. |
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