Alberta ranks 33rd in 2017 Global Petroleum Survey

Nov 28, 2017 | 5:47 AM

Alberta is the second least attractive Canadian province for global oil and gas investment according to the Fraser Institute’s 2017 Global Petroleum Survey.

Newfoundland and Labrador came out as the top-ranked Canadian jurisdiction with British Columbia the least.

Globally, Alberta sits 33 out of 97, up 10 spots from last year but still down from 2014’s ranking of 14.

Over half of the survey respondents cited the province’s high taxes have deterred investment in our oil and gas sector.

“Investor confidence matters, and having a government that’s openly hostile to resource development has apparently sent a chill throughout the oil and gas industry,” said Kenneth Green, senior director of the Fraser Institute’s Centre for Natural Resources and co-author of the 2017 Global Petroleum Survey.

Texas, Oklahoma and North Dakota round out the top three most attractive places for investment with Newfoundland and Labrador ranked fourth globally.

“The competitive headwinds Canadian jurisdictions already face in the energy sector will likely get stiffer as regulatory and tax burdens continue to lighten in the U.S.,” Green said.

“The shackles are being taken off the U.S. energy sector, which spells trouble for Canadian jurisdictions trying to attract oil and gas investment dollars.”

by Glory Przekop