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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html* H# |: _: y# I7 O( G
{1 B0 n& Q# y; a; ] E5 IWE ARE PETRO-CANADIANS
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6 T- \1 \4 S5 j* yDue to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." . X! N6 b2 I c
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We must now be referred to as "Petro-Canadians." & O" F7 K: `! t: K6 w5 E
% ~4 h+ U g/ g! h [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.
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If I was thinking of selling, I'd hold off until 2008 or 2010. 4 f) H' A, Q, u! X
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House prices, with a few peaks and valleys along the way, will continue to increase. # O. a& ?% n- ]! e" S
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We don't quite get it. ' K) n8 _6 K3 J% Z q
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We're squat in the middle of the greatest industrial boom in the freakin' world!
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& s' c; o; x1 N( mIn the oilsands, including mining projects and upgraders, the government lists 52 planned projects in its Inventory of Major Alberta Projects website. Average price: $3 billion per project. ( B; f% ?9 [7 S) ~5 T, F
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Even with huge slowdowns, at least half those projects will happen. The bitumen upgraders in Strathcona and Sturgeon counties are just starting. Nine proposed upgraders are listed on that website. 0 o3 V( q9 e$ v7 q: l
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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. # M4 e) N' }/ M7 v8 [4 U" V9 D2 K
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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 $10 per barrel, but oil- sand operations can still make a profit at those levels. / z! }/ m( R- p+ y' h
8 J- y* j5 r4 ], t5 _Stricter environmental safeguards will increase the cost of production, but won't severely slow it down. ) t8 ~8 s8 f, ^3 y. k0 T1 v1 ]
- U+ R/ }" `* r$ L: Q$ cAnd all those skilled tradesfolks, coming with their families, have to live somewhere. 9 L8 G r7 i/ h z/ @
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House prices will go nowhere but up. |
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