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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html# p# L! C6 l L# F5 y4 v( l
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WE ARE PETRO-CANADIANS
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$ _( c Z7 X& SDue to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." ; {+ W2 N* y2 g4 m/ ?
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We must now be referred to as "Petro-Canadians." ! F- N; k2 f& c o1 z. z
0 X# M& ^2 J& i VWHY 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.
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If I was thinking of selling, I'd hold off until 2008 or 2010.
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; g/ B* s5 x5 f' [3 NHouse prices, with a few peaks and valleys along the way, will continue to increase. - p3 V0 k: t. @9 ^9 n
- H0 |6 M1 o6 Y& ]$ r' T8 G% X& d* yWe don't quite get it.
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8 ^9 {$ q/ E/ w/ Z& j# tWe're squat in the middle of the greatest industrial boom in the freakin' world!
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# h6 B. L! V! ?! DIn 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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( L) c: F0 Q, F, d" ]( dEven 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. / ?* |( r) j' C5 n
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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.
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; s& b! n; w7 G" I9 D3 A* hEvery expert in the world says oil prices will not collapse, due to world-wide demand. The price might drop by $10 per barrel, but oil- sand operations can still make a profit at those levels.
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1 _$ v0 ]+ I/ }8 m- O+ s: N5 cStricter environmental safeguards will increase the cost of production, but won't severely slow it down. % M( j U* L; z
# L3 r7 H7 Q- Y; IAnd all those skilled tradesfolks, coming with their families, have to live somewhere.
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( \+ s9 A+ @. [House prices will go nowhere but up. |
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