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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html% T% s+ X9 Z2 ~: c) o8 S' A
, v9 e8 d: F& ?) ?WE ARE PETRO-CANADIANS
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2 l/ \) b5 m- F% JDue to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks."
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- ~ l$ r/ M! S& Z, k5 |We must now be referred to as "Petro-Canadians."
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4 z9 f& E% |7 _$ s# i: v( {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. 7 q& h) S6 p8 s' @) g1 l
2 F! m$ H6 v3 h% c+ H" c+ e2 ?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. 7 t2 h# g# y( g2 R' W6 F ]
* C+ ~: Z. b) t, C3 i& }4 EWe're squat in the middle of the greatest industrial boom in the freakin' world! ( \8 G- _( V4 H3 b% I3 K
* [4 O8 N5 U+ F9 q. p/ CIn the oilsands, including mining projects and upgraders, the government lists 52 planned projects in its Inventory of Major Alberta Projects website. Average price: $3 billion per project.
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7 I2 Q% B9 q3 }/ k. PEven with huge slowdowns, at least half those projects will happen. The bitumen upgraders in Strathcona and Sturgeon counties are just starting. Nine proposed upgraders are listed on that website. 7 h0 g9 J+ s/ T5 S
, F- G# b/ _0 {0 pUpgraders and big oilsands mining projects each require workforces of 5,000 to 6,000 to build over a two-year period.
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Tradesmen will pour into northern Alberta over the foreseeable future. The numbers of expected newcomers range from 3,000 to 10,000 per year, with a multiplier effect all over the region.
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+ x8 J* c1 `9 J$ g! S: s3 uEvery 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. + R% M3 P9 w# O
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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.
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* Y9 n* S3 g: O2 y; KHouse prices will go nowhere but up. |
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