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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html& f/ O5 Y4 b9 n
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WE ARE PETRO-CANADIANS
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7 P3 M; [ r p* ?7 M0 T, a' PDue to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks."
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) s* W: {' @2 i3 X9 m* f# H* }We must now be referred to as "Petro-Canadians."
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WHY SELL NOW? 0 d. U- a) [& }2 W* I( p' H0 t6 l
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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. : e7 E& W0 T/ ?2 X
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( L; u) u6 a- i2 c8 A8 VIf 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. / {9 A& r' i5 W9 u
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We don't quite get it. & _; A6 e6 S! |: u; I1 D% A
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We're squat in the middle of the greatest industrial boom in the freakin' world! ' N& U3 Q8 m- F8 d; I$ D
9 N9 g/ |7 \8 m$ J1 lIn the oilsands, including mining projects and upgraders, the government lists 52 planned projects in its Inventory of Major Alberta Projects website. Average price: $3 billion per project. ! _5 B% {, T0 F- @
5 m1 z/ |6 s$ J1 MEven 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. & R# N% A% \$ f7 u
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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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3 U% ~* y* ]$ V& nTradesmen 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. : ]" b/ X5 j. ~- @8 O9 c7 o4 w
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Every 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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9 R" S: H( G/ y* x' \Stricter environmental safeguards will increase the cost of production, but won't severely slow it down. $ t" t1 c& r& i6 x7 O: W5 o* {
2 L9 T+ f4 ?, j t: ~6 KAnd all those skilled tradesfolks, coming with their families, have to live somewhere.
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" N/ c% ?0 G b* V( S: Z5 fHouse prices will go nowhere but up. |
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