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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html+ Y" p0 E( N/ a8 F; E
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WE ARE PETRO-CANADIANS
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4 W# W ~: Y2 ?# UDue to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." 4 W% u8 Z" U3 I! H1 L$ s
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We must now be referred to as "Petro-Canadians."
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WHY SELL NOW?
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. _ {# {7 R+ Y) R7 ]/ {& @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. , O- b8 U* j* x5 u2 a0 X
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8 {! r5 Z; }" N' t* ] |: \If I was thinking of selling, I'd hold off until 2008 or 2010.
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House prices, with a few peaks and valleys along the way, will continue to increase. : R+ s3 u+ I3 p6 J" D6 x- S% x
0 d2 r& ]6 X1 ^. UWe don't quite get it. * a, Y7 n5 U4 e1 S" _ x
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We're squat in the middle of the greatest industrial boom in the freakin' world! 0 e; |8 e. ^- C1 X) x9 }+ E; N
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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: $3 billion per project.
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$ W% o" x% r% n/ Y# TEven 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. % q- K) W) P* _
9 Y G5 W5 e/ ?& C3 U1 R' }. UTradesmen 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. 1 w" [% M, N3 `, C
8 v" W9 _# @9 f9 \& |" q7 IEvery 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. $ d6 a" w5 ~; k* T; l/ A8 _
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And all those skilled tradesfolks, coming with their families, have to live somewhere.
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House prices will go nowhere but up. |
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