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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html
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WE ARE PETRO-CANADIANS : D3 U5 c; C- w/ ]& P
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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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5 b b5 v+ Z- kWe must now be referred to as "Petro-Canadians." 8 d& B+ G* O( C4 _ }: X
7 X5 V/ ?4 g- s# P3 j% p7 g5 DWHY SELL NOW? . t* S- m$ @3 X+ \1 @0 Q
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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. ; R, I' z# I% U( @
, B1 ?/ D8 T' Y$ J, M, s9 dHouse prices, with a few peaks and valleys along the way, will continue to increase. 9 U0 l' w+ k/ ~; M8 A
O7 n4 D8 m7 V9 d2 V/ [We don't quite get it. ; y4 ?' x' _5 X0 ?8 t) m
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We're squat in the middle of the greatest industrial boom in the freakin' world! " P- C9 c, E3 l5 R/ w
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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: $3 billion per project.
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Even with huge slowdowns, at least half those projects will happen. The bitumen upgraders in Strathcona and Sturgeon counties are just starting. Nine proposed upgraders are listed on that website. 0 c: P2 [: k" B L' \
- S h4 ]! l7 `. A" _Upgraders and big oilsands mining projects each require workforces of 5,000 to 6,000 to build over a two-year period. 2 |" P; @7 f( A8 W- m, v8 t& n
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Tradesmen will pour into northern Alberta over the foreseeable future. The numbers of expected newcomers range from 3,000 to 10,000 per year, with a multiplier effect all over the region.
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* h T" G$ ?2 j$ }' qEvery expert in the world says oil prices will not collapse, due to world-wide demand. The price might drop by $10 per barrel, but oil- sand operations can still make a profit at those levels. 7 W7 L' F; ]- ~( {
1 _. Y' s S4 A9 H6 ~Stricter environmental safeguards will increase the cost of production, but won't severely slow it down.
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And all those skilled tradesfolks, coming with their families, have to live somewhere. ; j# i( g A! M1 q8 D
( S( V" M) _9 L' U" Q' z$ t8 RHouse prices will go nowhere but up. |
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