Alberta is becoming a less attractive place for oil and gas investment, according to an annual survey of energy executives. The province was ranked 43rd out of 96 jurisdictions worldwide, down 18 spots from last year. It was in the top 15 in 2014.
The Fraser Institute Report reveals there’s uncertainty in the industry about new government policies like the royalty review and the carbon tax.
“The Alberta government has introduced policies that are confusing and possibly costly, creating uncertainty for the oil and gas industry, which can invest elsewhere,” says Kenneth Green, senior director of the Fraser Institute’s Centre for Natural Resources.
What makes the review worse is that Alberta is ranked lower than its neighbour B.C., which held steady in 39th place. Saskatchewan moved up from 7th to 4th, sitting behind only Oklahoma, Texas, and Kansas.
It’s noted that the survey was done before the Trans Mountain and Line 3 pipeline projects were approved last week. The full report can be found online.