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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html
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WE ARE PETRO-CANADIANS - @; S; f" Z/ ?3 D1 v1 V) Q+ s2 S5 b
) f9 ~# _4 k1 T7 k) oDue to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." 5 e8 I ?" Y& h
( X2 |# V! R7 P; MWe must now be referred to as "Petro-Canadians." - u* G! c6 F$ \" s1 Q9 B
. V8 B$ `# M. q5 ?3 l2 k! {0 d' P/ FWHY 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. ' z/ A' }9 L# K% Z( u
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e4 N p8 o5 j- RIf I was thinking of selling, I'd hold off until 2008 or 2010.
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6 I7 B3 S1 I$ Z7 M3 ^9 L5 S2 JHouse prices, with a few peaks and valleys along the way, will continue to increase. 8 ~+ I8 X! `5 Y9 X
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We don't quite get it. $ ~' [6 c' L" A" j2 v# r1 o: b9 O
" ` t; x' X# [, EWe're squat in the middle of the greatest industrial boom in the freakin' world!
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; X: Y) M# F) q3 ~In the oilsands, including mining projects and upgraders, the government lists 52 planned projects in its Inventory of Major Alberta Projects website. Average price: $3 billion per project. ! R+ } I6 N4 c2 j
1 C7 w( M4 g) r: LEven with huge slowdowns, at least half those projects will happen. The bitumen upgraders in Strathcona and Sturgeon counties are just starting. Nine proposed upgraders are listed on that website.
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Upgraders and big oilsands mining projects each require workforces of 5,000 to 6,000 to build over a two-year period. + Y* f% r. k. b y4 o
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Tradesmen will pour into northern Alberta over the foreseeable future. The numbers of expected newcomers range from 3,000 to 10,000 per year, with a multiplier effect all over the region.
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' c Q1 O+ d0 I3 g9 D5 _$ CEvery expert in the world says oil prices will not collapse, due to world-wide demand. The price might drop by $10 per barrel, but oil- sand operations can still make a profit at those levels.
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Stricter environmental safeguards will increase the cost of production, but won't severely slow it down.
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And all those skilled tradesfolks, coming with their families, have to live somewhere. 4 K9 i7 @& @% t$ q N/ x) m
" w3 _. X& c' f# {: p" SHouse prices will go nowhere but up. |
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