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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html: c: S3 Z5 [- I- O0 c
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WE 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."
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! W9 t( C! P* k4 A& @5 G; @9 t( QWHY SELL NOW? 3 e/ A" c. D% G/ |- i' L( L
+ K. O+ {" e! DIf 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. ; F1 u. k3 \+ R3 d$ |
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8 q& S( J8 V3 } D$ nIf I was thinking of selling, I'd hold off until 2008 or 2010. 9 N# l& q) s% a/ |/ s9 V" |7 H c! g$ t
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House prices, with a few peaks and valleys along the way, will continue to increase. a4 G% f- a" m; o0 u7 k6 ?+ t2 p- W
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We don't quite get it. E& A; E' ]2 z3 B6 l
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We're squat in the middle of the greatest industrial boom in the freakin' world! 8 g3 y" G8 U) X. |6 `. B
% b& t. S$ f7 \8 F" ?: B$ r6 tIn the oilsands, including mining projects and upgraders, the government lists 52 planned projects in its Inventory of Major Alberta Projects website. Average price: $3 billion per project.
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Even with huge slowdowns, at least half those projects will happen. The bitumen upgraders in Strathcona and Sturgeon counties are just starting. Nine proposed upgraders are listed on that website.
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Upgraders and big oilsands mining projects each require workforces of 5,000 to 6,000 to build over a two-year period. ' G1 v5 w1 g8 M+ @3 r
3 ^ E3 z z/ q9 iTradesmen will pour into northern Alberta over the foreseeable future. The numbers of expected newcomers range from 3,000 to 10,000 per year, with a multiplier effect all over the region. ; E$ s$ U3 E$ {% O1 b
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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. 5 h2 z- o* L1 t% S I+ Z0 _
! I; X3 ^/ D) l+ v7 eStricter 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.
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& z& n+ g' u% a2 `5 pHouse prices will go nowhere but up. |
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