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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html
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WE ARE PETRO-CANADIANS 4 L3 |8 f8 i" ?; c+ c
$ M v ]) S& Z4 Q4 kDue 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." i8 E" m! D: q
+ q6 P) D* ?) R% {3 M# m& @# {0 ]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. ! J$ T; R+ {# f
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% o0 G. }5 B) y( b3 D9 xIf 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# ?7 m. s. S
1 m3 F# k l' W8 {: FWe don't quite get it. , N5 Q5 y/ }; T/ ^- Q
* _! u1 Y* n2 mWe're squat in the middle of the greatest industrial boom in the freakin' world! 5 J o( m s; Y/ }) D/ E7 _! R- D4 P
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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: $3 billion per project. & A& @& U0 c6 F: E7 r7 {
_* |# z' ^& A& u; AEven with huge slowdowns, at least half those projects will happen. The bitumen upgraders in Strathcona and Sturgeon counties are just starting. Nine proposed upgraders are listed on that website. % ^! S* ]$ u7 L, n( L
! [7 f6 _4 m- T5 }5 r" 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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8 {2 V) L: O4 A) q% ]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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. r3 x( R4 q; `% K" C4 xEvery 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. Z' N% l- l, O
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Stricter environmental safeguards will increase the cost of production, but won't severely slow it down.
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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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