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Alberta Oilsands Sales Drop

http://www.realestatewebmasters.com Posted by CalgaryRealtor 328 days ago

Sales of Alberta oilsands leases and licenses are down dramatically this year as compared with the same time the past two years. Results from last weeks sales saw only $150,000 worth of oilsand leases sold, the lowest amount generated in over two years.

To date in 2008, oilsand landsales have generated the province of Alberta only $25-million, versus $138-million the same time last year and over $846-million the same time in 2006. Peter Tertzakian of ARC Financial Corp commented "There's a lot of uncertainty about the environmental legislation that's coming at us . . . rising costs are an issue. Put all those things together and there's no question that the excitement that was there in '06 seems to have tapered off."

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