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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html3 _7 M* V8 y9 }
) g) F8 }; Q- U& nWE ARE PETRO-CANADIANS ! [& g1 o% B' j9 o5 Y' B+ J
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Due to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." ! @- w% c. r2 _# y. @3 P
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We must now be referred to as "Petro-Canadians." # @$ u$ t9 N! o2 y8 c: G; V8 w8 F
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WHY SELL NOW? 2 N6 g) {, K3 B
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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. 8 O% D* q7 |3 F
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If I was thinking of selling, I'd hold off until 2008 or 2010. # n- D4 U7 \* q0 S/ e% p! ]
) F5 P% r) W; h! bHouse prices, with a few peaks and valleys along the way, will continue to increase. 1 M6 }% S' E" N" l
+ a1 C4 Q: I. A, ^We don't quite get it.
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, ~& U3 Y9 s% ^! T% r! F" }& w) x) h4 \We're squat in the middle of the greatest industrial boom in the freakin' world! 7 C2 ~0 ]3 N6 w& s V8 A5 f& Y
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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: $3 billion per project. ' z$ R/ \- F( A; ?* ~
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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. 5 g, M) k) M! B3 L( X3 s* M
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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.
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! `& a+ H4 D- n \2 M, o ?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. 8 w5 {: \7 }/ ~
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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.
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Stricter environmental safeguards will increase the cost of production, but won't severely slow it down. * D' d, E9 i, X8 c0 J2 x3 T
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And all those skilled tradesfolks, coming with their families, have to live somewhere. " n. y8 _5 N& y& q2 ?
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House prices will go nowhere but up. |
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