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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html
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WE ARE PETRO-CANADIANS 7 n* D, x( b1 A+ r
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Due to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." % b" G* E2 S0 B. ]3 |( `
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We must now be referred to as "Petro-Canadians."
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WHY SELL NOW? 2 W* e4 g; P+ `# F- l* e
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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. * ^7 G$ t! u( c7 @
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9 S) I. _! Q7 K- u( c7 j. xIf I was thinking of selling, I'd hold off until 2008 or 2010.
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0 Y q4 Q$ e: M& C _House prices, with a few peaks and valleys along the way, will continue to increase.
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4 [) H* I6 T. R# `: yWe don't quite get it.
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$ x( \7 u( b. V; S; l1 E* V! mWe're squat in the middle of the greatest industrial boom in the freakin' world!
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& z2 t9 [- v: J* R% b+ s( ]In the oilsands, including mining projects and upgraders, the government lists 52 planned projects in its Inventory of Major Alberta Projects website. Average price: $3 billion per project. 4 h% G' p, |6 N; y* x6 g7 _6 Y
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Even with huge slowdowns, at least half those projects will happen. The bitumen upgraders in Strathcona and Sturgeon counties are just starting. Nine proposed upgraders are listed on that website.
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' J s9 v$ s4 CUpgraders 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.
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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 $10 per barrel, but oil- sand operations can still make a profit at those levels. * y4 T3 Q, n$ Q# c% ~% o5 m
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Stricter environmental safeguards will increase the cost of production, but won't severely slow it down. + x8 y3 i) N0 E
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And all those skilled tradesfolks, coming with their families, have to live somewhere. / V8 {& v; b4 r) L: z# Y
( a5 s- b" M( Q5 Q$ yHouse prices will go nowhere but up. |
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