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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html g; s) m6 E3 M: M8 @) k
2 B) E& o! D8 D- ]/ UWE ARE PETRO-CANADIANS
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0 W" ^( q4 w/ T. bDue 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? $ S M' h5 V) R1 ^8 w& S2 F0 b7 _: J
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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. / r4 Q# \0 e4 l) r6 i. ^3 m4 V! H
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2 t3 `% M- }/ c# c& l: TIf I was thinking of selling, I'd hold off until 2008 or 2010.
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) z6 y" u7 T4 Q1 GHouse prices, with a few peaks and valleys along the way, will continue to increase.
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+ \! k4 W0 L; x" o7 k0 DWe don't quite get it.
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6 @/ t0 r. ?# l vWe're squat in the middle of the greatest industrial boom in the freakin' world!
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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: $3 billion per project. ! ]3 @$ ]2 j" ]- A2 [2 v6 e7 i
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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. . H) g1 t" ]& L! M
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Upgraders 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. * @% C; K4 B7 p& w% K& y2 z
& E) M Z1 Z5 Q6 P+ o! \+ J, DEvery expert in the world says oil prices will not collapse, due to world-wide demand. The price might drop by $10 per barrel, but oil- sand operations can still make a profit at those levels.
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Stricter environmental safeguards will increase the cost of production, but won't severely slow it down. Z$ U9 l! T* U" M3 [3 k; P' _
& V$ K+ p1 @4 i+ Z# J9 t4 UAnd all those skilled tradesfolks, coming with their families, have to live somewhere. ?* |7 V; b1 R8 X' d
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House prices will go nowhere but up. |
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