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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html
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- @3 N7 O) `: I' `/ W2 jWE 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." % ^6 T# ] L% A* A) r
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We must now be referred to as "Petro-Canadians."
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WHY SELL NOW? $ D8 j2 v7 D- h) B5 ^
$ f+ L6 s4 @; d! o) aIf 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.
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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. - i% \+ S! ]$ W n" o9 U( ^
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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: $3 billion per project.
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6 ]1 ^* I. @; R/ u# [$ EEven 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. 1 M0 [! L7 l/ _. W
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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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1 V8 M/ S% q) Y2 bEvery 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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0 _+ e" P8 \' e6 y# Z3 cAnd all those skilled tradesfolks, coming with their families, have to live somewhere. * _9 u# O- e" f" B% z: r, W
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House prices will go nowhere but up. |
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