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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html7 @: A- z2 Z: [ g
, a8 e, s, G% ]" rWE ARE PETRO-CANADIANS ) P/ R0 d2 K# R" u! r5 M
- q! s8 z9 A' ]$ |/ j0 S) S p0 PDue to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." 5 ]8 ^, r/ } {1 A
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We must now be referred to as "Petro-Canadians."
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WHY SELL NOW?
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$ C& {- q% a% D) u0 e* Z; RIf 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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) K1 y3 ~' M; r" H% M0 XIf I was thinking of selling, I'd hold off until 2008 or 2010. 1 p# }# m; d% v
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House prices, with a few peaks and valleys along the way, will continue to increase.
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We don't quite get it.
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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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* V% D* c5 l7 C2 E. x6 J. |Even 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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0 w- ~6 }7 r4 PUpgraders 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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; Z4 `: r& {/ e' S3 O) e9 a ?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. - q2 m, M1 e0 f! J9 W- V
# a, P' ^/ W9 M" I; h' IEvery expert in the world says oil prices will not collapse, due to world-wide demand. The price might drop by $10 per barrel, but oil- sand operations can still make a profit at those levels. * H$ A6 @: H; A: t2 q7 i3 N
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Stricter environmental safeguards will increase the cost of production, but won't severely slow it down. $ U- z* A; J, o1 i
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And all those skilled tradesfolks, coming with their families, have to live somewhere.
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6 @) \( J U( o8 ?' @House prices will go nowhere but up. |
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