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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html( Y, K7 a. {/ {7 K& Q
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WE ARE PETRO-CANADIANS
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0 Z. n# k: d4 F; BDue to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." ( Y: A) i& K* ]4 C
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We must now be referred to as "Petro-Canadians."
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. M" O( g& H1 m, D: AWHY SELL NOW? 4 d' D1 v' H) D! ~2 {' y3 Z
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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.
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9 Y: d5 m4 k/ ^% H( ZIf 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. " G5 t% T7 s5 W* H* D5 B
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We don't quite get it.
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We're squat in the middle of the greatest industrial boom in the freakin' world! ( {0 |2 r/ N3 o: m% Z4 `3 `0 Q
3 u& E) M6 X9 ?In the oilsands, including mining projects and upgraders, the government lists 52 planned projects in its Inventory of Major Alberta Projects website. Average price: $3 billion per project. 3 s9 e/ o. T7 W2 m w
. ~6 z. N# ^- ~' Q: F& @- r1 pEven with huge slowdowns, at least half those projects will happen. The bitumen upgraders in Strathcona and Sturgeon counties are just starting. Nine proposed upgraders are listed on that website.
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Upgraders and big oilsands mining projects each require workforces of 5,000 to 6,000 to build over a two-year period.
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Tradesmen will pour into northern Alberta over the foreseeable future. The numbers of expected newcomers range from 3,000 to 10,000 per year, with a multiplier effect all over the region. : I" m0 ]8 P" X# a
- ]! t2 F0 t6 l$ ^$ I3 rEvery expert in the world says oil prices will not collapse, due to world-wide demand. The price might drop by $10 per barrel, but oil- sand operations can still make a profit at those levels.
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$ Z+ u+ n% E# O, V5 w! T' @6 AStricter environmental safeguards will increase the cost of production, but won't severely slow it down.
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And all those skilled tradesfolks, coming with their families, have to live somewhere.
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6 v- f! X* L% {3 C2 v) ~House prices will go nowhere but up. |
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