Wyoming and Texas are considered far better for investment than any Canadian province, including Alberta, according to a survey of petroleum executives done by the Fraser Institute. .“The message from investors is clear — Canada’s onerous and uncertain regulatory environment continues to hurt the investment attractiveness of the country’s oil and gas industry,” said Fraser Institute Director of Centre for Natural Resource Studies and survey co-author Elmira Aliakbari in a Thursday press release. .The survey of senior oil and gas executives, conducted between May and October, ranked 15 North American jurisdictions (12 states and three provinces) based on policies affecting investment. .The jurisdiction coming in first was Wyoming. This was followed by Texas and Oklahoma. .Canada’s highest-ranked province was Saskatchewan at sixth place. Alberta ranked in 12th place, while British Columbia came in 14th. .The survey said Canada did not rank higher because of uncertainty about environment regulations, disputed land claims, and the cost of regulatory compliance. It said 62% of respondents were deterred by the uncertainty concerning land claims in Canada, compared to 24% in the United States. .The survey went on to say 73% of respondents were deterred by the cost of regulatory compliance in Alberta, higher than the 17% for Texas and 10% for Oklahoma. .“Policies matter, and when investors are clearly indicating they would rather invest in American states instead of Canadian provinces, policymakers should take note,” said Fraser Institute policy analyst Julio Mejia. .Governments across Canada have to promote fossil fuel development to create a fairer world, said Fossil Future author Alex Epstein at an October talk hosted by the Alberta Prosperity Project at the Westin Calgary Airport. .READ MORE: Author says world needs more Canadian oil and gas to prosper.“It is tough to persuade people about energy issues because they have been indoctrinated,” said Epstein. .Epstein said the anti-fossil fuel movement is “one where millions of people could die if they succeed.” He said he knew he had to speak up.
