Province prime for petroleum investments

Alberta remains one of the most attractive places in the world to invest in oil and gas production, says a study by the Fraser Institute. The Vancouver-based public policy research organization has released its eighth annual Global Petroleum Survey, which asked petroleum industry executives and managers about barriers to investment around the world. Alberta ranks second to Texas among 27 jurisdictions with large petroleum reserves.

Alberta remains one of the most attractive places in the world to invest in oil and gas production, says a study by the Fraser Institute.

The Vancouver-based public policy research organization has released its eighth annual Global Petroleum Survey, which asked petroleum industry executives and managers about barriers to investment around the world. Alberta ranks second to Texas among 27 jurisdictions with large petroleum reserves.

“Alberta’s wealth of petroleum reserves continue to attract investment, which creates jobs for scores of Canadians,” said Kenneth Green, senior director of the Fraser Institute’s Centre for Natural Resources.

Rounding out the top five in this category were Norway-North Sea, the United Arab Emirates and Qatar.

The rankings are based on investment disincentives, like high taxes, costly regulatory obligations and uncertainty over environmental regulations. The lower the perceived barriers in a jurisdiction, the higher its placement.

The survey also looked at 44 geographic areas with medium-sized reserves. Of these, Newfoundland & Labrador placed 15th and British Columbia 19th. Oklahoma was number 1.

The final category consisted of 69 jurisdictions with small oil and gas reserves. Saskatchewan and Manitoba were ranked second and third respectively in this group, with Mississippi leading the way.

When all 156 jurisdictions are ranked together, regardless of the size of their reserves, Saskatchewan is third, and the top Canadian province. Next among the Canadian provinces is Manitoba, in fifth place; followed by Alberta (16th) and British Columbia (62nd).

“Once again, taxes and regulatory uncertainty drive British Columbia’s relatively poor standing in the eyes of oil and gas investors,” Green said.

Quebec was the lowest ranked province, at 133rd on the global list.

The least attractive jurisdictions for investment among the 27 with large reserves were Venezuela, Iran, four Russian regions, Iraq and Egypt. The least attractive overall were Venezuela, Bolivia, Ecuador, Iran and Russia-Eastern Siberia.

The Global Petroleum Survey involved 710 respondents representing 563 companies.

Just Posted

Alberta is now below 3,000 active cases of COVID-19, as the province reported 2,639 Wednesday. (NIAID-RML via AP)
Red Deer below 100 active COVID-19 cases for first time since March

69.7 per cent of Albertans 12 and over have at least one dose of the COVID-19 vaccine

A Comox Valley 55+ baseball team isa being organized for the 2021 season. ADOBE STOCK IMAGE
18U AAA Carstar Braves start season strong

The Red Deer Carstar 18U AAA Carstar Braves started the Baseball Alberta… Continue reading

(Contributed image).
Online poetry reading to benefit Red Deer women experiencing period poverty

The Period Promise Poetry Powerhouse is a central Alberta collective of some… Continue reading

Green party Leader Annamie Paul speaks during a news conference on Parliament Hill in Ottawa on Tuesday, June 15, 2021. Paul has survived another day of party strife after a planned ouster shifted course, leaving her with a tenuous grip on power ahead of a likely federal election this year. THE CANADIAN PRESS/Justin Tang
Green Leader Annamie Paul blasts ‘racist,’ ‘sexist’ party execs who sought ouster

OTTAWA — Annamie Paul is firing back against the coterie of party… Continue reading

Conservative Sen. Claude Carignan leaves the Senate Chamber on Parliament Hill in Ottawa on June 19, 2018. THE CANADIAN PRESS/Justin Tang
Bill to implement UN Declaration on the Rights of Indigenous Peoples clears Senate

OTTAWA — A landmark piece of Liberal legislation aimed at harmonizing Canada’s… Continue reading

Tampa Bay Lightning left wing Alex Killorn (17) flips a shot on New York Islanders goaltender Semyon Varlamov (40) during the second period in Game 1 of an NHL hockey Stanley Cup semifinal playoff series Sunday, June 13, 2021, in Tampa, Fla. (AP Photo/Chris O'Meara)
Russian goalies highlight Lightning-Islanders series

NEW YORK — Semyon Varlamov is the wily veteran, coming off a… Continue reading

Canada's Felix Auger-Aliassime reacts during his ATP Tour Singles, Men, Round of 16 tennis match against Switzerland's Roger Federer in Halle, Germany, Wednesday, June 16, 2021. THE CANADIAN PRESS/Friso Gentsch-dpa via AP
Canadian Felix Auger-Aliassime upsets Roger Federer in second round of Noventi Open

HALLE, Germany — Canada’s Felix Auger-Aliassime earned one of the biggest victories… Continue reading

A course official keeps out of the sun on the seventh green during a practice round of the U.S. Open Golf Championship, Tuesday, June 15, 2021, at Torrey Pines Golf Course in San Diego. (AP Photo/Gregory Bull)
A different US Open than imagined at Torrey Pines

The spectacular ocean vistas will fill TV screens as usual, along with… Continue reading

A commuter pumps gas into their vehicle at a Esso gas station in Toronto on Tuesday, June 15, 2021. Statistics Canada will say this morning how fast prices rose in May compared to the same month one year earlier amid expectations of a hot inflation figure for the second month in a row. THE CANADIAN PRESS/Tijana Martin
Annual inflation rate climbs to 3.6 per cent in May, highest in a decade

OTTAWA — Prices across the country rose at their fastest annual rate… Continue reading

A plane is silhouetted as it takes off from Vancouver International Airport in Richmond, B.C., May 13, 2019. THE CANADIAN PRESS/Jonathan Hayward
Report calls for airlines to refund passengers for flights halted due to COVID-19

OTTAWA — Better protections for the rights of air travellers, immediate refunds… Continue reading

Minister of Environment and Climate Change Jonathan Wilkinson speaks to media during the Liberal cabinet retreat at the Fairmont Hotel in Winnipeg, Sunday, Jan. 19, 2020. Wilkinson says Ottawa will step in to conduct assessments of new coal mines that could release the contaminant selenium.THE CANADIAN PRESS/Mike Sudoma
Ottawa to review new steelmaking coal projects in Alberta’s foothills for selenium

The federal government will step in to conduct an environmental review of… Continue reading

Most Read