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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html
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( b3 j/ Q B& \3 VWE ARE PETRO-CANADIANS # ] _& ]4 b6 ] s3 B, X
4 o2 B2 B( ], w g2 ?Due to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks."
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: w- W, ^/ b/ c- X0 uWe must now be referred to as "Petro-Canadians."
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8 s% e: Q- u6 H0 o7 NWHY SELL NOW?
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: n& J+ K0 S- XIf 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. 4 v9 K! [" Y6 ?3 u0 h/ z
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. j$ k3 M. A* t1 PIf 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. " y, y, c6 O6 B4 {
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We don't quite get it. 6 M* W& T% ~% d8 j; u
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We're squat in the middle of the greatest industrial boom in the freakin' world!
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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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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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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. 0 O% B9 p, p7 j# u: p Z
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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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Stricter environmental safeguards will increase the cost of production, but won't severely slow it down. 4 Z7 @0 l4 @- m5 I: ^6 P
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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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