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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html
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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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We must now be referred to as "Petro-Canadians." ( S, Y: Z( Y) j" e' I I5 x
5 Y+ O. N2 c' l" T# h MWHY SELL NOW? * o+ w! }. E( ]4 C5 z6 q0 Y8 k
" `9 N; F/ K$ h/ y9 T: WIf 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. % I4 n' L/ a! n9 D+ U' X& K- p" ?- L
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House prices, with a few peaks and valleys along the way, will continue to increase. ) {! S+ O$ W* f
+ q. V8 s5 B$ d0 wWe don't quite get it.
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: D$ R+ H% [: m! E- L i. yWe're squat in the middle of the greatest industrial boom in the freakin' world! 8 W; l) e/ A) n- Z
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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.
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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. ' U4 n0 Y# {3 m: e" B. |( ^5 n
! ^% O0 s/ T9 p1 Z: b3 x2 tUpgraders and big oilsands mining projects each require workforces of 5,000 to 6,000 to build over a two-year period. / J; ~& }5 C3 H h
5 C2 Z3 U1 [" A& U' \; U- D3 dTradesmen 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. # d7 E N! r4 Q' r2 W
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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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Stricter environmental safeguards will increase the cost of production, but won't severely slow it down. : U. y4 Y1 ^- h: p4 @) y
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And all those skilled tradesfolks, coming with their families, have to live somewhere. ?. m' Y, A" }/ J2 l0 V9 B* v
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House prices will go nowhere but up. |
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