Alberta shows big improvement for oil and gas investment
(Calgary Herald; June 26) - Alberta has moved up in the world of best places to invest in oil and gas activities, to 21st place from 61st year ago, according to the latest Fraser Institute report. Alaska onshore moved up to 61st from 83rd, while Alaska offshore also advanced in the rankings to 52nd from 78th place a year ago, primarily due to improved regulatory concerns. The survey considers environmental, fiscal and regulatory issues.
Alberta shot up in the ranking of 147 jurisdictions partially on the provincial government's promise to streamline certain energy and environmental regulations, according to the conservative think tank's Global Petroleum Survey 2012. Respondents from 529 companies contributed to the annual survey, representing more than 50 percent of global oil and gas development spending last year, according to data from the International Energy Agency.
The top 10 most attractive jurisdictions to invest in oil and gas activities were Oklahoma, Mississippi, Texas, North Dakota, Manitoba, Netherlands, New Mexico, Kansas, Denmark and West Virginia. The 10 least attractive jurisdictions were Bolivia, Venezuela, Iran, Russia-Eastern Siberia and elsewhere in Russia, Libya, Ecuador, Uzbekistan, Argentina and Iraq. The report is available here.