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CALGARY - Manitoba has dethroned both Saskatchewan and Alberta as the most attractive Canadian province or territory for oil and gas investment, according to an international survey of petroleum executives and managers released today by independent research organization the Fraser Institute.
Saskatchewan, which was the top province in 2008, drops to the number two spot in Canada. But investors are most critical of Alberta, ranking the province as the least attractive among Canada provinces ranked for oil and gas investment. Aside from Manitoba and Saskatchewan, Alberta now also trails Nova Scotia, Ontario, Quebec, British Columbia, and Newfoundland and Labrador.
The results are contained in the Institute`s Global Petroleum Survey 2009.
"The survey results clearly show the industry`s dissatisfaction with the Alberta government`s misguided policies. Punitive royalty rates, a lack of consultation, and a growing anti-energy bias are common complaints about the Stelmach government," said Gerry Angevine, Fraser Institute senior economist and coordinator of the annual petroleum survey.
"Meanwhile, Manitoba has quietly encouraged oil and gas investment with low royalties and an easy to understand regulatory framework."
While the survey shows a reordering among Canada`s provinces, it also shows Canada losing ground on a global scale.
Read the full article here.
Saskatchewan, which was the top province in 2008, drops to the number two spot in Canada. But investors are most critical of Alberta, ranking the province as the least attractive among Canada provinces ranked for oil and gas investment. Aside from Manitoba and Saskatchewan, Alberta now also trails Nova Scotia, Ontario, Quebec, British Columbia, and Newfoundland and Labrador.
The results are contained in the Institute`s Global Petroleum Survey 2009.
"The survey results clearly show the industry`s dissatisfaction with the Alberta government`s misguided policies. Punitive royalty rates, a lack of consultation, and a growing anti-energy bias are common complaints about the Stelmach government," said Gerry Angevine, Fraser Institute senior economist and coordinator of the annual petroleum survey.
"Meanwhile, Manitoba has quietly encouraged oil and gas investment with low royalties and an easy to understand regulatory framework."
While the survey shows a reordering among Canada`s provinces, it also shows Canada losing ground on a global scale.
Read the full article here.