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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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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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8 `3 N" N- {* h7 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. , X2 E6 Y. F7 e" A4 r
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: h( R6 u" d- J( hIf I was thinking of selling, I'd hold off until 2008 or 2010. 7 ?9 E) e F0 v( {
9 R! k+ W9 n* u7 |) I/ ~; qHouse prices, with a few peaks and valleys along the way, will continue to increase. % b4 N4 ?4 u& B2 x, B/ p1 @( i
+ S$ g; y9 O% KWe don't quite get it. % @2 \6 W+ N, r0 }0 M
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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. 6 o; m* F/ j% e. y
% h5 Y' U f# V. \! ]4 N- k0 MEven 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. ' ?! z% a1 ~9 W6 j) Q7 F) x
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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. $ A2 W m4 A/ D) }4 b2 n
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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. - R \* r6 \% J
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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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/ d7 ^; u; a4 a( Y: ?' J% S' @Stricter environmental safeguards will increase the cost of production, but won't severely slow it down. . Q: C5 n7 S, V8 d
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And all those skilled tradesfolks, coming with their families, have to live somewhere.
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/ m0 m/ y& v3 @. u- D, l3 f6 EHouse prices will go nowhere but up. |
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