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WE ARE PETRO-CANADIANS 1 p2 h: z, R% [3 \; y" O3 a
4 U3 e! |- x" g/ }- _, x/ ?3 kDue to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." & u( o5 h+ X" f9 g& X/ X
+ h$ _- H# N2 \* @5 zWe must now be referred to as "Petro-Canadians." 2 p% [. n. B3 F
: w9 e& H# G @! {1 @WHY SELL NOW?
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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. , e% z9 G* M5 M9 k- L/ g
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If 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!
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' M2 `7 d# z, w+ f# Z* E/ {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.
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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.
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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. : {; H% s& G5 f: p) K
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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 $10 per barrel, but oil- sand operations can still make a profit at those levels.
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Stricter environmental safeguards will increase the cost of production, but won't severely slow it down. & F- i: ^& g6 v6 S
/ c, x. w; _+ f$ RAnd all those skilled tradesfolks, coming with their families, have to live somewhere. 7 m; k5 F; z( H p1 a9 T$ a
3 }- d, c3 W- F( g9 qHouse prices will go nowhere but up. |
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