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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html
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# [$ X6 \4 N/ XWE ARE PETRO-CANADIANS
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+ Y; _: X5 U8 i% _Due to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." 0 ?& I$ q e% G0 _! t
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We must now be referred to as "Petro-Canadians." 1 j A# m/ z& E& O+ ^ t4 Y
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WHY SELL NOW?
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7 o- u% a. E% Y8 ?$ F: I6 uIf 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. ' L t* z6 P" ]' x
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$ t. p c8 T; VIf I was thinking of selling, I'd hold off until 2008 or 2010.
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8 v+ K$ r' M/ A9 X4 X1 iHouse prices, with a few peaks and valleys along the way, will continue to increase. Y8 R9 q1 W/ e/ n3 R p% c
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We don't quite get it. 7 x, M! F7 p; x- e5 e, G" _! }4 ]( d
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We're squat in the middle of the greatest industrial boom in the freakin' world! 1 f' O- Q7 f- e/ @& k, u
; \+ y( g9 m1 h9 w) T( p9 b5 yIn 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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" d' B3 C0 I6 C9 G& v; s2 I2 ` vEven 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. $ c' a9 [0 q: @: }9 H5 W
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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. ! `- p9 [5 M4 Q5 ~! d I
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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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d/ [+ J: l; n, ^. A: E) uStricter environmental safeguards will increase the cost of production, but won't severely slow it down. & V0 E2 c% R2 g1 R% `" o: v m
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And all those skilled tradesfolks, coming with their families, have to live somewhere. + C5 u7 T/ r, }7 \) A+ R* c7 p
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House prices will go nowhere but up. |
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