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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html( Q- \$ {2 ~6 n1 m- {- q8 x. k& }3 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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. C$ t- w6 F. g8 K$ x2 RWe must now be referred to as "Petro-Canadians." 2 r; }, q% t* ^% U
+ P$ @ @0 C: e4 HWHY SELL NOW? / x5 a3 x& D8 w3 ?4 T7 n! J( X
3 U% q. l/ Z; i) r5 [& nIf 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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. S8 @3 ?; W6 P3 oIf I was thinking of selling, I'd hold off until 2008 or 2010. * y8 X4 N2 ?' `# l) |" `
2 q, e) q) y6 q7 r# Z! AHouse prices, with a few peaks and valleys along the way, will continue to increase.
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- R: E" S" A& ^) j7 l: Y5 aWe don't quite get it. . c# ]$ \* I& U' Y6 \* A
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We're squat in the middle of the greatest industrial boom in the freakin' world! 0 { c/ d5 g, U% C; P& h; X
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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: $3 billion per project. , b! V& ^& R+ C) D
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Even with huge slowdowns, at least half those projects will happen. The bitumen upgraders in Strathcona and Sturgeon counties are just starting. Nine proposed upgraders are listed on that website. 4 [8 F- z. c9 N1 s
' _& ] J8 J3 v. l3 yUpgraders and big oilsands mining projects each require workforces of 5,000 to 6,000 to build over a two-year period. 0 o; Q9 @" C3 i
2 v* K8 }+ T! l% o$ N0 C9 }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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& F# B I2 u* L6 sEvery 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. " F, W/ ]) J! T
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Stricter environmental safeguards will increase the cost of production, but won't severely slow it down. 0 \5 \) \' V+ E, L
% X C u' m; T6 v0 E! q! }( T1 z MAnd all those skilled tradesfolks, coming with their families, have to live somewhere.
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( j& f# x0 l1 ]8 C+ K3 o: L9 HHouse prices will go nowhere but up. |
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