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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html
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# Z2 ~* p1 J# A7 p0 E- ?WE ARE PETRO-CANADIANS # I* e+ J- B; a' h1 g( L+ L
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Due to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." + e8 K- @- b/ B2 \
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We must now be referred to as "Petro-Canadians."
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WHY SELL NOW? + w2 {/ \3 l) R% q
$ n! h3 E: r* M" a7 n- Q* yIf 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. ? \* Q9 L/ T4 q- W
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1 X3 W% {1 `3 c" 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. [( o- T) w: }" s4 }
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We don't quite get it. * s/ T( E3 F6 `5 q
" M3 _- M6 L4 zWe're squat in the middle of the greatest industrial boom in the freakin' world! 8 m, {& D5 G' d* }5 f! v
0 A. u7 v6 @3 x) {8 G8 ]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. , v9 C* k: W4 S# D2 b2 u% m
8 l: l5 j- {" f4 v5 @" IEven 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. / s T& m: i0 c
+ n+ W k& ^+ YUpgraders and big oilsands mining projects each require workforces of 5,000 to 6,000 to build over a two-year period. 1 ?! Y, r `) V4 V
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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. # d" u# m2 r- [% w. n% g
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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.
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0 z o/ N7 h, J" U" WStricter environmental safeguards will increase the cost of production, but won't severely slow it down. , w& `9 W+ c7 Y
$ R7 ?/ o3 y2 ?7 v% ]/ @! [And all those skilled tradesfolks, coming with their families, have to live somewhere. $ J2 H. n* T+ u/ F- `0 {6 ]" k
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House prices will go nowhere but up. |
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