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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html
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WE ARE PETRO-CANADIANS ' F( |% k6 D/ |
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Due to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." & u* p& _/ r: [( B% a7 ^4 K# X
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We must now be referred to as "Petro-Canadians." 4 l& V# w0 e# U% B: B
+ |8 T) r0 t$ ^ U9 p: OWHY SELL NOW? " h0 d: O) C' e; t) b, G0 J1 I, C. @
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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. ' v$ B: n& P G2 T
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$ C0 ^/ G+ ~/ S" _If I was thinking of selling, I'd hold off until 2008 or 2010. ) N0 } w+ |6 ^' H; c7 U. _$ D
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House prices, with a few peaks and valleys along the way, will continue to increase. ; O3 P" E9 f! R9 v6 N6 E7 x7 E
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We don't quite get it. 5 Y# r3 }+ n: L
- \! h( Q- z; \We're squat in the middle of the greatest industrial boom in the freakin' world! / @2 a7 g: i7 M2 R" l; p4 ~
' u; G* K i; lIn 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.
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( D/ T1 O6 t! P2 L' \4 q& c9 iUpgraders and big oilsands mining projects each require workforces of 5,000 to 6,000 to build over a two-year period. 5 o8 C6 ^0 W7 x6 K. N" L
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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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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. 9 p. B. f+ M s6 B0 C' z9 J
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Stricter environmental safeguards will increase the cost of production, but won't severely slow it down. $ ]$ K/ @1 _$ e9 T% j5 B; X! N, x
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And all those skilled tradesfolks, coming with their families, have to live somewhere.
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5 m4 m7 O, }2 t, s, I. QHouse prices will go nowhere but up. |
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