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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html0 J% ?2 ^. l X( n
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WE ARE PETRO-CANADIANS 1 t/ o0 V" ?% @5 }
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Due to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." ; c1 E6 P/ f$ ~( {* S
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We must now be referred to as "Petro-Canadians."
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6 O5 a7 _# I8 x* AWHY 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. & s7 U4 K4 S1 |+ V" R
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If 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. 9 w- u( R6 e* L: N* D a6 y
. ~; ]. E+ L* J% u6 q+ BWe don't quite get it. ) x/ w |1 z6 t5 m! e
. T1 ~7 p# M( QWe'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: $3 billion per project. . E( P! g+ [' w; L
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Even with huge slowdowns, at least half those projects will happen. The bitumen upgraders in Strathcona and Sturgeon counties are just starting. Nine proposed upgraders are listed on that website.
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+ D) V$ @; P! s! qUpgraders and big oilsands mining projects each require workforces of 5,000 to 6,000 to build over a two-year period. : T% X$ h6 x$ b* X
; ?! b3 y. G, M- v7 A' d y% M3 hTradesmen 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 $10 per barrel, but oil- sand operations can still make a profit at those levels.
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Stricter environmental safeguards will increase the cost of production, but won't severely slow it down.
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/ d1 @6 {' r; ?1 V8 B7 TAnd all those skilled tradesfolks, coming with their families, have to live somewhere.
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- v J$ r3 {- _ ^9 r5 q5 z! s5 I5 DHouse prices will go nowhere but up. |
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