Saskatchewan ranked top Canadian spot for energy investment
BY DEREK ABMA, FINANCIAL POST JUNE 27, 2011 8:00 AM
The Fraser institute has ranked Saskatchewan much higher than Alberta when it comes to the best region for oil and gas investments.
Photograph by: File, Postmedia News
OTTAWA — Saskatchewan is the top-ranked Canadian jurisdiction for oil-and-gas investments, according to an annual survey from the Fraser Institute.
The Canadian-based public policy research group said Monday that Saskatchewan has surpassed Manitoba, the top-ranked region last year, which finished second this year.
Saskatchewan was applauded for its government's long-term stability in energy policy, low royalties and "clear regulatory frameworks."
"Saskatchewan understands the petroleum industry and how important it is to maintaining a prosperous economy," said Gerry Angevine, the Fraser Institute's senior economist.
Alberta was sixth, moving up from eighth last year, with the Fraser Institute noting drilling incentives introduced in May. However, the group said Alberta remains a concern for investors due to "regulatory uncertainty . . . environmental regulations and the cost of regulatory compliance."
British Columbia dropped to eighth from sixth last year for many of the same arguments held against Alberta, as well as "taxation in general."
Meanwhile, Ontario was third; Nova Scotia fourth; Newfoundland and Labrador fifth; New Brunswick was seventh; Quebec ninth; and the Northwest Territories were 10th. Nunavut and the Yukon were not ranked.
No Canadian region cracked the global Top 10 of this survey. Saskatchewan was the closest, at 11th out of 136.
U.S. states occupied eight of the overall top 10 spots. The top five were Mississippi, Ohio, Kansas, Oklahoma and Texas.
The Fraser Institute says the rankings were based on surveys with 502 senior executives and managers representing more 60 per cent of annual spending on exploration and production by international oil-and-gas firms.
Postmedia News
more:http://www.canada.com/Saskatchewan+ranked+Canadian+spot+energy+investment/5010723/story.html#ixzz1QURbLuQ8
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