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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html5 {+ \+ x* @4 Y8 q" R
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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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* y4 G* l' ]) ^4 y& uWHY SELL NOW? g0 b" y V6 v6 p* E
" q8 a6 @$ M1 Q) Y8 z: Z/ [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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8 ]3 ~5 v) y% m0 b8 c+ j5 w5 `1 AIf I was thinking of selling, I'd hold off until 2008 or 2010. 0 W9 r) g1 G4 {" @
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House prices, with a few peaks and valleys along the way, will continue to increase.
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+ p5 r9 m, p, b/ ] _: o5 r% B9 rWe don't quite get it.
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8 O) O M/ ?; YWe're squat in the middle of the greatest industrial boom in the freakin' world!
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' l4 A) _" T2 H6 }' y0 _4 OIn the oilsands, including mining projects and upgraders, the government lists 52 planned projects in its Inventory of Major Alberta Projects website. Average price: $3 billion per project. F$ i2 f) r1 s
- ^( D. I6 j! J. xEven 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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. [# X8 O+ }' Y. v- z5 }3 {Upgraders and big oilsands mining projects each require workforces of 5,000 to 6,000 to build over a two-year period. & s, L# O/ g& T2 I
' H, n- g: J' X4 WTradesmen 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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- x; y( c1 v( _, M/ ?Every expert in the world says oil prices will not collapse, due to world-wide demand. The price might drop by $10 per barrel, but oil- sand operations can still make a profit at those levels.
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" _% a9 d0 }. y, o! P' d2 rStricter environmental safeguards will increase the cost of production, but won't severely slow it down. # _( q/ ^" i; a/ \+ U+ q2 v2 Z
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And all those skilled tradesfolks, coming with their families, have to live somewhere.
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$ |4 Q% B' j. b% |House prices will go nowhere but up. |
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