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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html, Q% }; @7 L8 k5 f
5 ^& u# x3 h" i" ]- [7 `WE ARE PETRO-CANADIANS ' ]7 f& J/ q* E9 a. l. J( }6 E
' K, ]- L3 f' z) E' ^( U& S* rDue 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."
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WHY SELL NOW?
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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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If I was thinking of selling, I'd hold off until 2008 or 2010. 3 _, W% I d C. k6 I
) x. E! l5 b, ]) J9 e J9 xHouse prices, with a few peaks and valleys along the way, will continue to increase.
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, A* |* N1 D7 b( m; P+ QWe don't quite get it. / V4 s% {* o% C$ r
6 T, J3 F4 A4 T+ ?We're squat in the middle of the greatest industrial boom in the freakin' world! 6 F7 p) n: S! z+ N5 Q" S
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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: $3 billion per project. 1 E7 C6 j: }8 {- ^- l3 k7 b
& s6 T( S; @$ Z( n- R3 D( HEven 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. ! f5 |+ c4 d e% X! ?
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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. # M5 L) o7 j( }1 g+ H- D5 O
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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 $10 per barrel, but oil- sand operations can still make a profit at those levels. 1 N/ y2 l W% m
( y/ v8 {$ Q/ jStricter environmental safeguards will increase the cost of production, but won't severely slow it down. % w- C h0 y. z
0 k8 E9 g# m) ^8 f8 k- e* mAnd all those skilled tradesfolks, coming with their families, have to live somewhere. # h1 q+ w2 F* f' N! |$ F- T
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House prices will go nowhere but up. |
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