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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html h) |$ ~% a) d& P4 t! Z
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WE ARE PETRO-CANADIANS
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" P9 D; `" d( ]1 b( ^Due to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks."
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1 {4 D8 {8 q) |5 u0 q/ b. bWe must now be referred to as "Petro-Canadians." ; e0 w+ H% J6 i7 N7 a" s
9 v& d6 S3 ^, E' ^2 pWHY SELL NOW? H1 c# _* S O+ | ^/ D
1 D! u! U. ^9 [+ A7 G6 E$ UIf 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. / ?. K2 X1 n: V% S! S6 m
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If I was thinking of selling, I'd hold off until 2008 or 2010. * k5 v/ K% Q5 y( P; f
8 I$ t: X# E) E/ i- {House prices, with a few peaks and valleys along the way, will continue to increase. 0 d$ ?/ M- p* ~7 H6 C
- H3 |) [: m( _' P) PWe don't quite get it.
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We're squat in the middle of the greatest industrial boom in the freakin' world! " y& j8 q5 X$ n7 K
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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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5 y6 m% I8 ?5 A2 VEven 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. 5 w- j" O; W+ H4 c- h8 ^! M% `
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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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5 A t" K _1 n3 _. GTradesmen 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.
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9 r8 l4 J7 U" _- ? mEvery 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. $ ^' e9 Y. |- ]+ C1 G0 R
3 l" g2 y: J- |* ]Stricter environmental safeguards will increase the cost of production, but won't severely slow it down.
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( b4 @1 y2 Y8 v+ ~5 [1 }And all those skilled tradesfolks, coming with their families, have to live somewhere. ( \' ^8 c6 t, t- W: ^* Z/ o# R% e
9 H( A+ z$ b1 kHouse prices will go nowhere but up. |
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