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VANCOUVER, British Columbia, Jan. 09, 2024 (GLOBE NEWSWIRE) — Wyoming, for a second 12 months in a row, is taken into account much more engaging for funding than a number of Canadian provinces in response to this 12 months’s survey of petroleum-sector executives launched at this time by the Fraser Institute, an unbiased, non-partisan, Canadian public coverage think-tank.
“The message from buyers is evident—Canada’s onerous and unsure regulatory surroundings continues to harm the funding attractiveness of the nation’s oil and gasoline business,” mentioned Elmira Aliakbari, director of the Fraser Institute’s centre for pure useful resource research and co-author of the newest Canada-US Energy Sector Competitiveness Survey.
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The survey of senior oil and gasoline executives, performed between Could and September of 2023, ranks 17 North American jurisdictions (13 in the USA and 4 Canadian provinces) primarily based on insurance policies affecting oil and gasoline funding.
This 12 months, out of the 17 vitality jurisdictions included within the survey, Wyoming ranked 1st adopted by North Dakota (2nd), Saskatchewan (3rd)—Canada’s highest-ranked province— Oklahoma (4th), and Kansas (5th). Alberta holds the ninth place, whereas British Columbia and Newfoundland and Labrador are among the many least engaging jurisdictions, rating 14th and fifteenth, respectively.
Respondents pointed to the uncertainty regarding environmental rules, regulatory duplication and inconsistencies, and uncertainty concerning disputed land claims as the key areas of concern in Canadian provinces when in comparison with US states.
Particularly, on common, 68 per cent of respondents for Canada had been deterred by the uncertainty regarding environmental rules (stability, consistency and timelessness of regulatory course of) in comparison with 41 per cent for the USA.
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Likewise, on common, 45 per cent of respondents for Canada mentioned they had been deterred from investing by the uncertainty regarding disputed land claims, in comparison with 25 per cent of respondents for the USA.
“Insurance policies matter, and when buyers are indicating they’d slightly put money into American states as an alternative of a number of Canadian provinces, policymakers ought to take word,” mentioned Julio Mejia, a coverage analyst on the Fraser Institute.
MEDIA CONTACT:
Elmira Aliakbari, Director of Pure Useful resource Research, Fraser Institute
To rearrange media interviews or for extra info, please contact:
Drue MacPherson, Fraser Institute
Tel: (604) 688-0221 Ext. 721
E-mail: drue.macpherson@fraserinstitute.org
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The Fraser Institute is an unbiased Canadian public coverage analysis and academic group with places of work in Vancouver, Calgary, Toronto, and Montreal and ties to a world community of think-tanks in 87 international locations. Its mission is to enhance the standard of life for Canadians, their households and future generations by learning, measuring and broadly speaking the consequences of presidency insurance policies, entrepreneurship and selection on their well-being. To guard the Institute’s independence, it doesn’t settle for grants from governments or contracts for analysis. Go to www.fraserinstitute.org
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