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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html# d/ Z- ?/ I# M0 y( Z
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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."
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" K, Y7 f/ Q; m( q1 u, k% VWe must now be referred to as "Petro-Canadians." # E, m3 ~6 f/ r& _: {* V, ^. o1 @
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WHY SELL NOW? 7 a; e+ J% B" V4 ?
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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. ^" b: V( \7 s* h
! |* O' ~. o/ I( IHouse prices, with a few peaks and valleys along the way, will continue to increase. 0 {5 ?5 U5 q: M9 ~; f
2 X8 i8 h9 t+ l3 X6 c0 HWe don't quite get it. ' S2 P. L# I6 [: a8 f5 H# d5 G8 z
4 X! F# Z4 |% U0 z) P2 ZWe're squat in the middle of the greatest industrial boom in the freakin' world! $ Z, {. ?3 C( f, e2 j
% ]) E) G* K, K7 ^1 J2 eIn 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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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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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.
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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 $10 per barrel, but oil- sand operations can still make a profit at those levels. 2 F+ i( `' x' E* ~$ b8 L+ x
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Stricter environmental safeguards will increase the cost of production, but won't severely slow it down.
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; C" |* ~) G# B9 s3 _, c) L6 f) `1 GAnd all those skilled tradesfolks, coming with their families, have to live somewhere. ( O# R, k" c: H7 r- ]: } A
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House prices will go nowhere but up. |
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