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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html8 g ?; ?8 ^/ {, m0 _& N5 ^/ S4 o
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WE ARE PETRO-CANADIANS : I1 {1 _# ?( X: H8 M# I1 a/ z
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Due to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." " l+ v4 x4 H, O# F+ t
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We must now be referred to as "Petro-Canadians."
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WHY SELL NOW? 9 o1 S+ Q5 Y. q. K$ a
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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. 3 N* o7 B9 M# t
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; f$ Y9 H( ]9 VIf 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.
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& u' A+ N/ T# i7 d" xWe don't quite get it. 9 n) V) k: e) Y
+ f7 d/ f7 z7 @& r+ O/ K, t- f6 NWe're squat in the middle of the greatest industrial boom in the freakin' world!
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* \ B( e3 W JIn the oilsands, including mining projects and upgraders, the government lists 52 planned projects in its Inventory of Major Alberta Projects website. Average price: $3 billion per project. 4 ]4 X. P/ r s3 P; N9 W
- H" e* Q: a1 mEven with huge slowdowns, at least half those projects will happen. The bitumen upgraders in Strathcona and Sturgeon counties are just starting. Nine proposed upgraders are listed on that website.
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O6 N$ A. u' n% z1 h( oUpgraders 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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, v& R: j! f; N( oTradesmen 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. 6 z, u) Q% g# }( J; V( W$ g
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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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; P3 S% f/ \# N4 Z- Z- d# l+ C/ jStricter environmental safeguards will increase the cost of production, but won't severely slow it down.
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& v% `7 N i9 |7 u) L7 V; [And all those skilled tradesfolks, coming with their families, have to live somewhere. ; G9 ?" A8 h0 G. I* @; c
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House prices will go nowhere but up. |
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