Gezza

I wondered this massive multi $$$ project of digging up the oil in Alberta. Whether it has taken any notice of the recent falls in world oil prices. Will it or has it any effect on property prices there?

neill

Funny that, i was thinking the same thing the other day,.....however the general long-term trend of crude oil is up, given that china and india are still growing at breakneck pace, and probably will be until bio-ethanol, etc. become viable mass-market alternatives. I think what we saw is the end of the 'price bubble'. $50 a barrel seems cheap now whereas 3 years ago the thought of that price was scary.

Souvenir

If the oil price dips below $50, and stays there, there will be a loud bang as the bubble bursts. Below $50, many of the planned projects are not viable.

I, for one, would not be mortgaging myself up to the eyes in AB these days.

Buchan6

I know a lot of guys who moved to Alberta in the early 80's when the Oil Sands were active. When it went T*Ts up a few years later, they were
all left with negative equity and ended up handing keys into the banks as there were no buyers.

Thats the problem with resource based economies !

Tiffin Tease

Yes but seeing as how 'easy to reach' oil only has about 30 years left it is highly unlikely that this - ahem, cough - low price will be reached again... it may be going down but doesn't seem to be alarming the economists.

If I worried about that sort of thing i'd never go anywhere.. move to a tourist town it could stop being exciting, move to a ski resort and the snow may not come... ifs, ands or buts are no way to live a life...

Logic and sense aren't always the best

iaink

No, Im sure that irrational and ill researched vetures are a sure way to bring peace and prosperity to your family

dbd33

Where's Ocean ?

Souvenir

Quite.

About a week ago there was an article in the Globe & Mail in which Murray Edwards - reputed to be "da man" in oil sands - cast some doubt over the future prospects of the sector.

The short-term/eggs in one basket mentality seems insane to me, yet people still go for it.

dbd33

On this recent thread, http://britishexpats.com/forum/showthread.php?t=396056 OceanMDX explains that the Alberta economy does not depend on resource prices.

Tiffin Tease

LOL - not entriely what I meant... our move has been researched to within an inch of it's existence, which is why I keep an eye on what the ecomonists say, but an IF the oil prices dip shouldn't stop someone attempting to live their dream... obviously peace and prosperity are extremely important but what I mean is you can't live a life on 'what if'... I've done it and I regret not having the courage to do things previously because I believed in the IF AND or BUT - doesn't mean I am now going to walk around with my eyes closed, just with my mind open and make sound judgements based on heart AND mind... as best my hubby and I can, cos neither of us are psychic but nor are we daft

Tiffin Tease

Exactly - rounded research is essential

Souvenir

I had a look at that. Most illuminating, if you're into tits and willies.

dbd33

It's mostly economics. Still, I am very much into tits, yes.

iaink

I think they call them chickadees here, but I may be mistaken.

Tiffin Tease

I think I must have filtered that out