“learn more” about what’s going on there, you know there’s something interesting going on. This was the case for Alberta, as Warren Buffett and Bill Gates arrived in Alberta this week to explore and tour the vast oil sands resources in Northern Alberta. Recognized as the second largest reserve of oil in the world (behind only Saudi Arabia), Alberta is gaining more and more international attention as the place to keep an eye on. As detailed in a CNBC article, the billionaires came to Alberta to gain a better understanding of the industry, and to investigate investment opportunities and implications created by the massive amount of development and growth occurring in Alberta. While they have been quoted as saying they’re not entertaining any immediate investment opportunities, it’s clear that their very presence has significance on a number of levels. These guys don’t take time to go on discovery tours without very good reasons to do so, and this is just another example of how Alberta is being recognized as an area of international significance. It also speaks to the fact that whether they intend to invest or not, Buffett and Gates recognize that Alberta is going to continue playing a more significant role on the world energy stage. Alberta continues to weather the economic storm that formed in the U.S. and has bled over the border in recent months, but the vast capital investment and long-term economic fundamentals continue to give investors confidence is a place to be during these uncertain times. After soaring more than 100% in 4 years, Alberta real estate prices are now moderating and most markets are generally pretty flat, with some markets posting modest gains, while others are seeing slight declines. However, Alberta in particular (and Canada in general) have not, and will not see the types of weakness experienced in many U.S. markets. Not only are the fundamentals much stronger in Canada, the economy is much more positive, and the lending laws in Canada restricted much of the goofy lending practices that are now haunting the U.S. real estate markets. Markets around the world are reeling right now, much of it tied directly or indirectly to the massive economic downturn the Americans are experiencing. Canada is one of the few glowing lights on the horizon, and I believe it will continue to shine over the next few years. And when you’ve got folks like Warren and Bill coming to see what’s up in your backyard, you know that the future continues to shine brightly.]]>