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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html8 |* `$ c, Z5 G5 d5 S9 A
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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."
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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.
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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. 5 V8 }( v5 X3 b& d* [7 N+ U
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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! 8 u+ A- N# t2 t" a. b3 j9 U9 u
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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: $3 billion per project. + v3 t' ?, u- ]) p: X( p
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Even with huge slowdowns, at least half those projects will happen. The bitumen upgraders in Strathcona and Sturgeon counties are just starting. Nine proposed upgraders are listed on that website. 6 h- u# g( J) Q( M8 o3 P2 E+ n- D
/ Q% \7 B$ A( P& rUpgraders and big oilsands mining projects each require workforces of 5,000 to 6,000 to build over a two-year period. . ~/ |# n4 d6 T8 ]
7 S2 @; L' o, \! _8 K5 GTradesmen 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. 9 `1 s4 \1 t6 n2 u
6 e3 D9 v( _& hEvery 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. ( w- C7 o/ T3 Q9 `! {
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And all those skilled tradesfolks, coming with their families, have to live somewhere. + {3 ]1 v r5 C
0 ]& _4 l3 G) H% O+ Q4 lHouse prices will go nowhere but up. |
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