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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html
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( P0 e/ U- J% I' L2 p A+ J/ w9 JWE 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."
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We must now be referred to as "Petro-Canadians." " O; `# U3 a4 [& @5 Y
: S7 z9 ]$ `4 Z6 h3 KWHY SELL NOW?
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, G6 o& B* A* y4 P( uIf 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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$ m1 h3 l* L4 w/ x- r: {$ S. ^If I was thinking of selling, I'd hold off until 2008 or 2010.
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House prices, with a few peaks and valleys along the way, will continue to increase. - c! z! p& x2 V( B% K. K F
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We don't quite get it. ) D- g# U! l3 J$ L! h% Z
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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.
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& \) J' C% B% _7 {2 h% kEven 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. 1 ^7 p4 A- ~# a- y0 d
4 ]$ I6 R( y3 Z, q) U( g3 nTradesmen 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. 4 a" X! i+ y2 T; z, D
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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. 2 d: @8 u- F* J. I
" m" `5 |3 z) u ^3 o* l w- }Stricter 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. # C, B0 h! M0 } g {# T
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House prices will go nowhere but up. |
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