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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html
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WE ARE PETRO-CANADIANS ) b0 d" x+ b1 v+ s# ~" a6 _3 X$ P
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Due to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." $ |7 J: O, U* [& B$ `' ~$ @) ]2 f6 J# Y. ^
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We must now be referred to as "Petro-Canadians."
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WHY SELL NOW?
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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. & u& f! `2 I1 A6 C
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If I was thinking of selling, I'd hold off until 2008 or 2010. ) l4 r! o3 Y% J- F
' H& y0 o8 Q. T" |: rHouse prices, with a few peaks and valleys along the way, will continue to increase.
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/ E/ e8 p. ?) k" O6 QWe don't quite get it. : X4 n! u* o! P! q3 i4 B
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We're squat in the middle of the greatest industrial boom in the freakin' world! & z+ {3 N3 v$ F
. D y: x% {1 ]3 `# ~In the oilsands, including mining projects and upgraders, the government lists 52 planned projects in its Inventory of Major Alberta Projects website. Average price: $3 billion per project.
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Even with huge slowdowns, at least half those projects will happen. The bitumen upgraders in Strathcona and Sturgeon counties are just starting. Nine proposed upgraders are listed on that website.
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Upgraders and big oilsands mining projects each require workforces of 5,000 to 6,000 to build over a two-year period. 6 P( E7 `, s1 D
. b2 n" |% m$ ITradesmen 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 l/ e8 c* ]( K0 n
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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 $10 per barrel, but oil- sand operations can still make a profit at those levels. 3 j8 P1 e7 R _: Z" s$ t, p+ _; B
6 ^5 z. T! L+ l% ~4 ]' r8 |Stricter environmental safeguards will increase the cost of production, but won't severely slow it down.
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And all those skilled tradesfolks, coming with their families, have to live somewhere. , h6 p2 P; u4 q$ N% ?1 s
; J+ g- N6 h7 z5 {* s( wHouse prices will go nowhere but up. |
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