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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html$ @/ [9 l/ v8 V- p5 g+ y
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WE ARE PETRO-CANADIANS
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Due to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." ) |( |9 T) @( m) ]! s
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We must now be referred to as "Petro-Canadians." , V( O$ X3 G# @3 T7 R2 T+ u$ d
4 y' e/ K/ T; i, \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. : t. U& F7 o. r9 Q! k7 s3 I& o/ C
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, J i; }( M+ h' yIf I was thinking of selling, I'd hold off until 2008 or 2010. [8 U% C4 y/ G$ S# S
" c! n) a6 v BHouse prices, with a few peaks and valleys along the way, will continue to increase. 6 r6 F" I: T6 |
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We don't quite get it.
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% ~; O6 i3 F6 ?5 ~" N# z uWe'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: $3 billion per project.
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0 N" j6 l3 L$ c9 S& uEven 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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6 ?, w( O3 `8 m& }$ a4 bUpgraders and big oilsands mining projects each require workforces of 5,000 to 6,000 to build over a two-year period. 1 c% M; z, n7 r1 y
) T) N! D8 u% @( @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.
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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. 3 `. b# t: u2 Y
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House prices will go nowhere but up. |
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