..is the oilsands.
Although oil prices may be low now and sure you can say they have "plummeted" from the earlier high of $140/barrel to $50/barrel. The oil companies are not fazed, long term views make day to day oil prices irrelevant.
The oil sands are one of the biggest capital investment projects in the world, averaging $20bn a year over the past few years, and with more than $100bn of projects planned for the next ten years.
"It is the economic engine of Alberta and of Canada," "At this time of global economic turmoil, the one shining economic light in this country is the oilsands," says Alberta's conservative Deputy Premier Ron Stevens.
Although global economic worries have caused the price of oil to fall, the oilsands are still very profitable with and incredible 300 to 400 year production life span.
In fact by slowing down production investors, like me, are given more time to purchase and sell investment real estate in this incredible region. Instead of planning to sell some of my portfolio between 2010 I can extend the date to 2012 or 2015, pay down my mortgages further and receive a bigger pay out at the end.
1 comment:
Real estate blogging encourages a culture and principle of RESPECTFUL debate. Great stuff as usual…. Thanks for this.
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