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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html8 u" M2 i% o3 R# ^
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WE ARE PETRO-CANADIANS
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+ I, L$ ]6 h4 k4 h$ JDue to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." & ^- P2 X% z" @
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We must now be referred to as "Petro-Canadians."
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& R: ~$ A+ J$ `$ ~% FWHY 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. $ f7 ]5 A# c/ M6 f
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& s# u) u1 U8 R+ ~! kIf 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. , }$ V+ c& S3 i3 b% K. {
. i$ ?1 k Q/ U% jWe don't quite get it.
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& T' ^, i' Q/ s1 |/ {$ g3 rWe're squat in the middle of the greatest industrial boom in the freakin' world! - F; r. M2 H9 F, k f" S
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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. y- p6 V) H: l# g5 O
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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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# W% [; @. j+ W, ^& M8 c2 XUpgraders 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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* M. O7 C f3 T' H9 AEvery 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. / b: F* O2 M+ J6 M5 Z0 G
8 L9 Y6 u' d7 B- X7 EStricter 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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