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Simeon Mitropolitski is a Canadian analyst, of Bulgarian origin, and a former syndicated columnist with the Bulgarian News Agency (BTA). He is the author of several hundred articles dealing with hot political and economic topics, both national and international.

He was part of the first group of Bulgarian intellectuals and students that began the opposition movement that finally put an end to the communist regime in this country in 1989, and in 1996-1997 participated in international observation teams during the elections in several Balkan countries - Romania, Albania and Bulgaria.

In 2002 Simeon and his family moved from Bulgaria to Canada where they live now in Montreal, province of Quebec. Simeon is a Master of Political Science from McGill University and a B.A. of Political Science and History.

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In Calgary, the Canadian version of Houston, TX, there is only one thing that can really scare the business community, and this is the falling oil demand. When the oil prices go up, as happens these days, and the noisy eco organizations take the paid leave, which also happens from time to time, this sounds like a music in the ears of many persons in Calgary, the fastest growing city in Canada.

Recently the local newspapers noticed that the most expensive residential listings in the city of 800,000 have reached the $3 million mark*. In 2002 80% of all sold homes were evaluated at between $150,000 and $300,000. There was a 37.5% increase of the number of the houses sold for over $900,000 in the last 12 months.

According to Canada Mortgage and Housing Corporation, the households in this city have the strongest intentions in Canada (13%) to buy a home before the summer of 2003**. These strong intentions aren't surprising considering at least three local particularities: the higher oil revenues, the higher housing affordability in the province of Alberta***, and the higher level of employment there****. The provincial government of the Progressive Conservative Party boasts to have built a solid economic base by introducing low-tax and low-regulation operating environment.

There are some factors that could create difficulties for the Alberta energy sector development ahead and thus diminish the speed at which the real estate market is growing. The major of these negative factors is the Kyoto protocol that has already shelved one multi-billion project and has put on hold another one of the same size. The protocol, ratified by Canada, which puts a cap on the green house effect gas emissions, may impede the further investment activity in the province, known for its big oil and natural gas resources.

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* - All prices are in Canadian dollars ($1 US = $1,53 CAD).

** - The buying intentions in Toronto stand at 12%, in Vancouver at 11%, in Halifax at 10%, and in Montreal at 8%.

*** - The housing affordability, or the share of the pre-tax incomes paid for mortgages, utilities and property taxes, is 28% in Alberta.

**** - Employment rate in Alberta is 70.1% (the highest in Canada and 6th highest of all 60 state and provincial jurisdictions across the United States and Canada). The rate measures the proportion of people working compared to the working age population.

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