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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html
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WE ARE PETRO-CANADIANS
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Due to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks."
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We must now be referred to as "Petro-Canadians."
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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. % A% v" l) Z. T6 Y w" {+ d
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If I was thinking of selling, I'd hold off until 2008 or 2010. 8 F4 O) Z0 J8 W/ ]- A
& V2 O; S9 R% uHouse prices, with a few peaks and valleys along the way, will continue to increase.
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We don't quite get it. T3 T3 H, a( S! _2 D, x
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We're squat in the middle of the greatest industrial boom in the freakin' world!
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5 o" C/ e& W6 r5 {9 aIn 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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% D6 M) S& W& W/ 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.
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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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5 O1 \8 ?+ P# s( WTradesmen 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. ' ^: L1 o) c6 ]" @7 p" Z: ~
, F+ M1 b/ T/ {, k7 wEvery expert in the world says oil prices will not collapse, due to world-wide demand. The price might drop by $10 per barrel, but oil- sand operations can still make a profit at those levels.
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% C. C/ B' d* T+ MStricter environmental safeguards will increase the cost of production, but won't severely slow it down.
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And all those skilled tradesfolks, coming with their families, have to live somewhere.
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" U& l+ v; D" A$ I; a6 jHouse prices will go nowhere but up. |
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