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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html
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X" r n- u3 P" G- oWE ARE PETRO-CANADIANS $ K* B% X$ n* C
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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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. w* t5 W: r/ o# w$ ?$ AWe must now be referred to as "Petro-Canadians." % p6 Y1 F8 p/ W: C# U5 a* g. H1 H
# j( n# W! W2 uWHY SELL NOW? % U4 D3 k4 z+ ?
4 L2 p) L' k$ I- o$ U/ oIf 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.
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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. 2 _' F3 e/ e) i8 u) Y; b$ m3 s
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We don't quite get it. 7 ]7 \$ n3 ^5 ?; h' Q
1 \; D5 W+ |) d6 ?) i! `! [+ WWe're squat in the middle of the greatest industrial boom in the freakin' world!
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! S2 Y) Z7 S. bIn 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. ; E1 k; [1 |/ R. b; p6 C. ]
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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. $ e" Y! b2 L# [+ o6 ?
' q3 B& T1 \2 |0 q! m% l+ Y1 @3 ^5 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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0 l- x! S1 S5 xTradesmen 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. ; v% B* V* E8 B4 K l4 g
7 g& J* W# S6 _) O- l' D7 M) uEvery expert in the world says oil prices will not collapse, due to world-wide demand. The price might drop by $10 per barrel, but oil- sand operations can still make a profit at those levels.
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4 k$ k5 {- a* k* k0 K5 _Stricter environmental safeguards will increase the cost of production, but won't severely slow it down.
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5 a. K7 [ _! V+ b9 uAnd 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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