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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html' d! l. @$ s' n' _" r1 G
5 x7 |- v0 F4 p. @4 BWE ARE PETRO-CANADIANS
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6 x% i6 _: i/ t& u: oDue to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." 4 I7 z3 F5 |7 ]- Y
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We must now be referred to as "Petro-Canadians."
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5 b; [# y" X G" U/ i1 [WHY SELL NOW?
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$ }7 \0 x+ e" _# O8 R, n, LIf 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. ' B4 g7 \8 C$ n
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1 F6 j/ |4 p; T4 lIf 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.
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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! 5 C; z7 p* e) c( s* a0 P1 B6 B
! a. Y( F) N: H0 HIn 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. 9 y' X, C0 |+ g9 f
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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. - n8 m4 G( L1 g1 J
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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.
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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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Stricter environmental safeguards will increase the cost of production, but won't severely slow it down.
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* z+ w) n. s+ O3 z2 R* E& jAnd 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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