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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html
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WE ARE PETRO-CANADIANS
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4 R+ \9 j z5 {Due to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." ( p1 }$ M6 \5 y0 a
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We must now be referred to as "Petro-Canadians." " E# e8 I. L$ Q8 B# A8 _
2 F+ ~) T$ @: j! x: KWHY 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. : y; O# p% w0 O/ _" m7 Q. `# g
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; v1 X, K8 Y. [. b$ {6 ]9 E) gIf I was thinking of selling, I'd hold off until 2008 or 2010.
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* }( ^4 a6 S, Z% J% P% |House prices, with a few peaks and valleys along the way, will continue to increase.
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" {- S2 [9 l. `We don't quite get it. 3 w" r3 {% r% x" `
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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: $3 billion per project. ; K5 {; w) F8 E! c
5 Y+ F0 Z; v$ T5 `( W+ B8 KEven 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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+ Y9 O8 j- c. d( B- @# c* oUpgraders and big oilsands mining projects each require workforces of 5,000 to 6,000 to build over a two-year period. , W# R9 R. x4 ?3 }& O: x
* S- N. K' [! \: m- h6 t ^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. # c- }% E9 q, t
% k' I$ A" E4 g+ O/ ^( y. g* l* ?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. " r) p1 B+ e. N, x3 [& q# R. ]1 W; y+ Y
6 U S) T% I" F: p: m cStricter 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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' e- S# }1 V3 ?" p; s7 v( MHouse prices will go nowhere but up. |
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