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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html
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WE ARE PETRO-CANADIANS * B( {# }4 S3 c. C8 p( ^. L* }
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Due to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." 6 w1 Z4 |) H$ N M4 z# n9 k/ Z" X
8 s3 N4 M8 B7 H& f+ TWe must now be referred to as "Petro-Canadians."
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WHY SELL NOW? 0 j3 I- s' J3 _) D9 H" S2 f$ y. @: S
, {! @' j' R3 }' KIf 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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* s1 H/ m }5 a! F! D4 n! cIf I was thinking of selling, I'd hold off until 2008 or 2010. + e) t; r3 B6 Q' e& B& z' B# }
/ A4 {5 H" k9 c7 S) I/ jHouse prices, with a few peaks and valleys along the way, will continue to increase.
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We don't quite get it. - G6 F3 h0 h/ T
$ [' L+ Y5 k) V6 D, F5 ]We're squat in the middle of the greatest industrial boom in the freakin' world! ) G* ?! ]2 |! o" K3 j' o3 v
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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. $ c9 q) S6 D4 N: f* S" q
$ y( m6 c, X0 j6 K/ a6 EEven 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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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. 0 T7 J- q6 d6 D' Q$ K5 c& A
9 d) T. W6 H$ MEvery 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. , U/ S# R% A" p/ f4 @
' q. j. Q6 l5 G( P" qAnd all those skilled tradesfolks, coming with their families, have to live somewhere.
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& Y+ A! Z/ `6 V& z+ [: DHouse prices will go nowhere but up. |
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