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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html5 s( u) G* s& |% ?5 r
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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." 6 e( ]) s: C1 T+ \$ n
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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. - b1 j* L/ `5 \* o5 i# M
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6 J' A6 i& }$ P. _If I was thinking of selling, I'd hold off until 2008 or 2010.
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4 ]4 [$ w( f% Y9 CHouse prices, with a few peaks and valleys along the way, will continue to increase.
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8 U4 B- l' F( l4 e" H8 n/ `We don't quite get it.
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We're squat in the middle of the greatest industrial boom in the freakin' world!
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( C9 ^0 e# y; t" r* z2 F! `2 `' wIn the oilsands, including mining projects and upgraders, the government lists 52 planned projects in its Inventory of Major Alberta Projects website. Average price: $3 billion per project. ' }) J" q; T8 D# [
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Even with huge slowdowns, at least half those projects will happen. The bitumen upgraders in Strathcona and Sturgeon counties are just starting. Nine proposed upgraders are listed on that website. 9 d6 v7 ^; j! ^4 Y: j
* a9 K7 y* q$ T( e" q4 W3 kUpgraders 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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1 A: M6 v0 ` 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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& o, \! u2 X# O1 G/ t" C3 c) i7 LEvery expert in the world says oil prices will not collapse, due to world-wide demand. The price might drop by $10 per barrel, but oil- sand operations can still make a profit at those levels.
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Stricter environmental safeguards will increase the cost of production, but won't severely slow it down. 4 l' _3 e$ ^; V* S8 p; \
; S/ g* ?% o' ]7 C' J. X& |And all those skilled tradesfolks, coming with their families, have to live somewhere. 3 Y$ n3 Q8 w4 S4 z/ z
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House prices will go nowhere but up. |
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