Alberta now ranks as the second least attractive Canadian jurisdiction for oil and gas investment – ahead of B.C. but far behind Saskatchewan, according to an annual global survey of petroleum-sector executives by the Fraser Institute, an independent, non-partisan, Canadian public policy think tank.
Alberta’s score improved slightly this year, but its No. 33 ranking remains far behind 2014 levels when it placed No. 14 globally out of 156 jurisdictions, the survey noted.
More than 50 per cent of survey respondents said Alberta’s high taxes deterred investment in the province’s oil and gas sector.
“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.,” said Kenneth Green, senior director of the Fraser Institute’s Centre for Natural Resource.
Elsewhere in Canada, Newfoundland and Labrador was the top-ranked province having moved up from No. 25 last year to the fourth most attractive worldwide this year. Saskatchewan – No. 4 globally last year – ranks No.7 this year.