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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html
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, A( r* C; T" g' \! [) r* {7 v) WWE ARE PETRO-CANADIANS
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1 [6 L& } c. @8 p6 ^ EDue to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks."
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9 t! n" K" C4 S, YWe must now be referred to as "Petro-Canadians."
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WHY SELL NOW? & u' `: ?; \& Q" p3 H [& u
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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. & F% ^0 r, q- F6 t& L
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If I was thinking of selling, I'd hold off until 2008 or 2010.
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0 ]! O4 @6 p! c/ Q- w( |9 E. EHouse prices, with a few peaks and valleys along the way, will continue to increase.
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We don't quite get it. , l/ g* @0 {+ N: p2 ]# O
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We're squat in the middle of the greatest industrial boom in the freakin' world! ; W# ~6 e ^$ {
& G- H9 t# }+ {2 z$ ZIn 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. 7 s' C5 S3 ?2 T2 m1 v3 T
) C+ r. p/ }+ r, yEven 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. - p+ l% j- C2 x A/ u* W1 P% r
( }8 S! M/ `) o1 w SUpgraders 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.
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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 $10 per barrel, but oil- sand operations can still make a profit at those levels. ' g/ T9 m* U* A+ k3 x
+ S* Q; _' ^8 h! R) o9 BStricter environmental safeguards will increase the cost of production, but won't severely slow it down. ) B8 {# G( O; J7 I9 P/ `
( W) \$ m c4 n7 IAnd all those skilled tradesfolks, coming with their families, have to live somewhere. / Y9 |/ A. ^$ A8 Y
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House prices will go nowhere but up. |
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