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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html; b5 {5 j+ x1 G- {; n
& P9 i: F! b& H! W: OWE ARE PETRO-CANADIANS + U5 i, Y: s! W, E9 c4 S
6 m1 {9 H: i# o% l5 cDue to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks."
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% v4 I: J' ]' U! dWe must now be referred to as "Petro-Canadians."
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WHY SELL NOW? 0 b1 [2 m1 E8 w% W9 g! C
, i4 V/ R+ U3 }# \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. 8 ^; n! c( I4 w" k9 V
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If I was thinking of selling, I'd hold off until 2008 or 2010. . |' @' g2 ^' V; W7 `/ K
1 {$ O' \* ]; U: y2 @/ h1 w3 ?House prices, with a few peaks and valleys along the way, will continue to increase.
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! y4 H# t! w$ q4 YWe don't quite get it. ! H' P5 w( M9 h& a- J0 E! w
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We'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: $3 billion per project. , \" m- Q" g `- Q' U( I
2 i& X$ W; l8 q# D0 xEven 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. # c8 G% u+ n" l5 J
; ~2 B/ J, Y8 J2 aUpgraders 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 $10 per barrel, but oil- sand operations can still make a profit at those levels. / E) i! G" ^) B; Z8 l( P$ h3 N
4 G b1 B z& X' I0 F7 NStricter environmental safeguards will increase the cost of production, but won't severely slow it down. : ~6 W1 z1 I$ n# r' m7 w6 f
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And all those skilled tradesfolks, coming with their families, have to live somewhere. 6 ~" T% }8 q7 @# x8 _! k3 S
+ T9 \7 M" U; `' u1 p4 \House prices will go nowhere but up. |
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