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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html
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. ^7 a" I0 t+ |5 O& N' tWE ARE PETRO-CANADIANS ( Z6 P5 t0 j Y g$ T! N
x) u' f7 @; ?5 f# N+ L& UDue to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." , {+ E! _" z8 o) s: N4 R" U+ T& s
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We must now be referred to as "Petro-Canadians."
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# g0 y2 {1 ~6 ]0 s" pWHY SELL NOW? ' G0 @$ V. j/ S9 w2 g
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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+ I- D/ d6 pIf I was thinking of selling, I'd hold off until 2008 or 2010. 8 s& c4 D' A0 I7 F1 V+ x
" e5 j' ?8 ]6 X* O3 y0 H1 H2 X% LHouse prices, with a few peaks and valleys along the way, will continue to increase. 9 n2 s/ Y" A6 ~
U5 z* _4 Z6 n3 P" `. `8 ?- O& uWe don't quite get it. : s6 V9 n! j$ f4 Y; y5 P+ I/ R. D6 c
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We're squat in the middle of the greatest industrial boom in the freakin' world! " x5 v- n) E" J* d4 `
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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. 8 m% L( q4 E; v: j: e% _ S
6 {; `8 k0 z4 ~7 k+ \) ^' qEven 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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+ @: A) b2 u' {) qUpgraders and big oilsands mining projects each require workforces of 5,000 to 6,000 to build over a two-year period. $ O# {) J: d5 U5 \/ f8 G9 F
0 R% R, [( Q+ S7 Q2 iTradesmen 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. $ ]' }5 w. ~( Y+ I& V6 I1 z
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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 $10 per barrel, but oil- sand operations can still make a profit at those levels. ( q q2 n) p# J3 q* m
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Stricter environmental safeguards will increase the cost of production, but won't severely slow it down. / w( f1 M: a1 O0 U2 w
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And all those skilled tradesfolks, coming with their families, have to live somewhere. ) S7 B$ L9 j6 Q: X9 z; r
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House prices will go nowhere but up. |
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