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Edmonton Real Estate Booms with Oil Boom

It’s an Oil Boom and it is why you should consider moving to Edmonton.

It is now three years after the global tanking of energy prices and according to an article in the Wall Street Journal, foreign investors are piling into Canada’s Alberta and Edmonton areas as Alberta announces its plan to double its oil production.

As with any Oil Boom comes problems and in those problems, for the right person, you can find opportunity. Case in point: as a result of the exploding demand there is an extreme shortage of qualified workers. According to an article in the Edmonton Journal:

“Over the next two years, the board predicts Alberta will create 132,900 net new jobs — or about 40,000 more people than the entire population of Red Deer — cutting the province’s unemployment rate to 4.5 per cent by 2013. That’s just one per cent above the pre-recession lows of 2007.”

As a result, there is a massive influx of interprovincial and international migrants, but even with all this migration it is predicted that the supply will not meet the demand. When demand outstrips supply it means that wages will go up for those willing to make the move.

The Petroleum Human Resources Council says nearly 40,000 new workers will be needed in the energy sector by 2020 just to replace those who retire, plus 90,000 additional oil-patch workers will still be needed. With China, South Korea, Japan and Thailand all spending Billions of dollars in new investments as well as with ExxonMobil and Imperial are spending $10.9 billion (Cdn) on the Kearl Oilsands Project and Husky is spending $2.5 Billion on its Sunrise Phase One Sit Project, the demand for skilled labor is only intensifying.

This unprecedented job growth will continue, easily, for at least the next decade. This sentiment was echoed and reinforced recently by the Premier of Alberta, Alison Redford and as a result, Federal Immigration Minister, Jason Kennedy, vowed to streamline the immigration system to “speed up” the flow of foreign skilled workers into Canada.

Then there is the whole issue of demographics. The current demographic trends pose a significant challenge to employers as the oldest of the baby boomers reached retirement age in 2011 and the youngest baby boomers are turning 50. That means that for the next 15 years, employers will continue to see a mass exodus of highly qualified workers. Despite the fact that there were over 250,000 immigrants to Canada last year it is still exceptionally difficult to find a quality worker. The reason, so few of those entering Canada have the trade skills or the construction experience that are in desperate demand. According to Merit Contractors Association Chief, Mr. Stephen Kushner; “Of the more than 250,000 immigrants coming into the country every year, less than 700 a year would actually have construction skills.”

What started all of this, the answer is simple: technology. For years, petroleum producers have known about great reserves of oil locked up in “sand.” The problem was that it was not economically feasible to spend the money to extract it. That all changed with advent of technology.

Oil Sands , which is called Tar sands by its detractors, is simply a natural deposits of sand, clay and bitumen. Bitumen is the heavy black viscous oil that needs to be extracted. In order to do so, the oil sands and are mined using strip mining, in open pit mines, or by thermal extraction, using steam assisted gravity drainage (SAGD) technology. While the two systems of extraction are similar, there is a difference in that the extraction of the oil from the sand matrix occurs on the surface with the excavation methods and underground with SAGD. Once extracted the oil is then purified of all dirt and water and then sent to be upgraded. This upgrade can occur on site or at a separate site. In the case of the distant upgrading site, the bitumen is normally diluted with a conventional light oil to make it flow more easily through the pipeline. The end-result is an oil similar to the more traditional oil obtained by pumping.

As a result, Edmonton and Alberta combined are sitting on what is estimated to be over $16 Trillion dollars (Cdn.) of oil. Obviously the principal problem is getting the oil out of the sand and thus the boon in construction jobs and the need for “roughnecks.” Right now is the time to get involved and start your career in the Oil and Gas industry; ground zero being Alberta/Edmonton Canada.

Moving to Alberta is not without its perks either. Alberta is full of incredible opportunities, it boasts not only a vibrant recreational and sport scene it also has an exceptional arts and entertainments scene. Furthermore, Alberta’s education and healthcare systems are both world class. As an added bonus Alberta is home to the “SuperNet,” one of the worlds most modern systems of communication. Lastly, Alberta has wonderful communities and neighborhoods, from new construction to well seasoned neighborhoods, you are bound to find a place to call home.

To get started you can visit the Alberta Canada Immigration Help Center  We highly recommend starting here as there are a number of way in which an individual with the right skills can immigrate to Canada.

Between world-class health care and education, an exploding job market that pays top dollar for skilled workers to beautiful neighborhoods, the Edmonton/Alberta area is the place to be. Getting in now, at the ground floor of an exploding industry guarantees you top pay, room for growth the resultant promotions. As a result, you can start your life hear, live your life, and ultimately retire with out ever having to leave.

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The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license. REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.