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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html
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WE ARE PETRO-CANADIANS 3 d, Q$ e0 Y9 q( q1 ~+ M9 l' k
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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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( X# f% w# G% v! z6 G5 mWe must now be referred to as "Petro-Canadians."
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WHY SELL NOW?
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+ q) O5 a& n7 A( K6 N+ z6 [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 k) k% W9 G( `0 D3 DIf I was thinking of selling, I'd hold off until 2008 or 2010. $ ^5 H$ d+ k# q% t
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House prices, with a few peaks and valleys along the way, will continue to increase. 4 L8 Q# D7 s; D) o# K1 k5 t
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We don't quite get it.
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, I0 b; p3 i) q4 _/ S dWe're squat in the middle of the greatest industrial boom in the freakin' world! * v* Z3 [; T+ d% y" W
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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: $3 billion per project.
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( p0 t0 G/ M- H' M2 SEven with huge slowdowns, at least half those projects will happen. The bitumen upgraders in Strathcona and Sturgeon counties are just starting. Nine proposed upgraders are listed on that website.
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Upgraders and big oilsands mining projects each require workforces of 5,000 to 6,000 to build over a two-year period.
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Tradesmen will pour into northern Alberta over the foreseeable future. The numbers of expected newcomers range from 3,000 to 10,000 per year, with a multiplier effect all over the region. ; C0 m8 N4 }2 W+ F. }, p
`* H5 o H$ ~* O: AEvery 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. ) A) I7 q, x1 T. u
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Stricter environmental safeguards will increase the cost of production, but won't severely slow it down. 6 _3 }& x! A+ J) n0 G8 k4 S9 ^% |
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And 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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