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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html
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WE ARE PETRO-CANADIANS 7 R1 g: w4 w. H+ H
/ N$ C6 [0 e0 I6 cDue to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks."
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We must now be referred to as "Petro-Canadians." 3 } S( Q/ B8 C+ R' M
' ]* ~: O0 m7 h3 e w: C) w6 N$ }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.
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If I was thinking of selling, I'd hold off until 2008 or 2010.
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House prices, with a few peaks and valleys along the way, will continue to increase. ' ~% N( k3 W8 S5 D5 u! }9 ~7 S
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We don't quite get it.
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* g* G* b% F3 S! C6 _We're squat in the middle of the greatest industrial boom in the freakin' world! . i* n0 ^# B) ?6 P4 a( f/ j$ c- l$ X
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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: $3 billion per project. ; y6 k: k7 b4 h: `& e- \
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Even with huge slowdowns, at least half those projects will happen. The bitumen upgraders in Strathcona and Sturgeon counties are just starting. Nine proposed upgraders are listed on that website.
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( X2 j9 o. u$ d0 d/ ]Upgraders and big oilsands mining projects each require workforces of 5,000 to 6,000 to build over a two-year period. - Q g: N3 `" |- f; U" l
7 V8 ^6 b8 I" W$ \6 ?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. * x& N8 Q% o' j3 A
5 j/ \. ^4 X) w6 w7 W! yEvery 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. & F+ q+ e9 w% p3 b ]' H( Q
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And all those skilled tradesfolks, coming with their families, have to live somewhere.
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House prices will go nowhere but up. |
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